Russia halts plan to nationalize foreign firms – reports ...News

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Russia halts plan to nationalize foreign firms – reports
Companies continue to pay leases and salaries to employees in the country as many plan to return The Russian government has suspended work on the recently proposed bill to nationalize foreign firms that have chosen to end their operations in the country amid Ukraine-related Western sanctions, Izvestia newspaper reported on Monday, citing sources. Last month, a government commission on legislative activity approved a draft law, which would allow for the introduction of external management in firms, at least 25%-owned by residents of “unfriendly states,” or of countries that have placed sanctions on Russia. The init

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