Many Western and other foreign companies decided to quit Russia after it invaded Ukraine, while Moscow has been working on a law to allow the state to seize assets of firms that go
Employees work on the assembly line of the Lada automobile plant in Izhevsk. Picture: REUTERS
But he thanked deputies for giving initial approval in May to a bill allowing the state to seize control of an enterprise in the event of a “sudden departure” by a foreign partner to save jobs and pay wages and taxes. The move boosts his influence on policy as Russia seeks to defend its economy against stringent Western sanctions.
Companies which have decided to leave have been wrestling with how to limit the financial impact, protect jobs of Russian staff and, in some cases, leave an option to return.
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