Bitcoin price today: rises above $111k amid easing trade jitters; US CPI on tap
Investing.com -- Russia is considering nationalizing and quickly selling off foreign-owned assets as retaliation if European authorities move to seize Russian holdings abroad, according to a report from Bloomberg News, citing source close to the Russian government.
President Vladimir Putin signed an order on Tuesday that creates a fast-track procedure for selling state-owned assets. This decree aims to accelerate the sale of both Russian and foreign companies, the source said, requesting anonymity because the information is not public.
The source indicated that if the European Union begins seizing Russian assets, Moscow may implement "symmetrical measures" in response.
Many Western companies continue to operate in Russia across various sectors. These include banking giants UniCredit SpA and Raiffeisen Bank International AG, along with consumer goods corporations such as PepsiCo Inc and Mondelez International Inc.
The new privatization mechanism could potentially affect hundreds of Western businesses that have maintained their presence in Russia despite international tensions.
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