Western companies have started to tally the cost of a long-term exit from Russia, after President
endorsed a plan to nationalize foreign assets after many companies said they would pause their Russia operations in the wake of Moscow’s invasion of Ukraine.
Mr. Putin on Thursday backed a plan floated earlier this week by a senior member of his dominant United Russia party to nationalize the operations of Western companies exiting the country. Such a move would help prevent job losses and maintain Russia’s ability to produce goods domestically, said
Andrei Turchak,
the secretary of the general council of the United Russia party.
Separately, the Russian prosecutor general’s office on Friday said it would ensure companies that have said they are pausing or exiting operations comply with the country’s labor…
