The main objective of Vladimir Putin’s decree on the management of foreign assets is to create a compensation fund which will be a response to the expropriation of foreign assets. This was stated by the press secretary of the President of the Russian Federation Dmitry Peskov.
“External management is introduced punctually in connection with the production of assets important for the functioning of the Russian energy sector. This will ensure the stable operation of important enterprises, eliminate risks when the positions of hostile countries will negatively affect our economy,” Peskov said.
The Kremlin spokesman added that the list could be expanded if the need arose.
According to the text of the decree, the movable and immovable property of foreign citizens associated with hostile countries and persons controlled by these foreigners may fall under temporary management. Also under management are securities and shares of the authorized capital of legal entities of the Russian Federation, as well as property rights of these entities of hostile foreign states.
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