apple moscow Russia’s Economic Development Ministry prepared draft legislation that would potentially allow the Kremlin to nationalize the assets of foreign-owned businesses that leave the country, Russia’s Interfax News Agency reported Thursday.
The bill would “allow the state corporation VEB.RF and the Deposit Insurance Agency (DIA) to quickly take control of such companies, and then ‘repack’ the business into a new organization and sell it at public auction. If there are no applicants, then the state will act as a buyer,” according to Interfax.
“VEB.RF” refers to Vnesheconombank, which is a Russian state-owned development corporation.Russia’s Economic Development Ministry drafted the legislation […]
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