Putin signs law to limit 'unfriendly' investments in Russia
The Russian government has planned to stop "unfriendly" countries from investing in its major firms as it broadens its anti-West retaliatory measures, MNA reports.
Russian President Vladimir Putin has signed a law allowing foreign investors from "unfriendly" countries to be barred from holding stakes in major Russian companies and banks, state news agency RIA Novosti said on Friday.
It said the government would draw up a list of Russian firms to be covered by the law, including all systemically important banks and firms above a certain size in terms of revenue, employees, assets, or taxes paid.
Under the law, the rights of foreign investors from unfriendly countries - meaning those that have imposed sanctions on Russia over its war in Ukraine - could be suspended, and their shares distributed proportionally among Russian owners.
Putin’s spokesman Dmitry Peskov warned the West in November that Moscow “will do everything possible" to resist Western attempts to "plunder" its reserves.
Last month it took control of a Russian subsidiary of French yogurt maker Danone am in April it took similar steps against Finnish utility Fortum as well as Germany's Uniper.
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