Putin urges restraint in state seizure of assets [Yahoo! Finance]
FORTUM OYJ CP UNSP/ADR (FOJCY)
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Source: Yahoo! Finance
MOSCOW, April 25 (Reuters) - Russian President Vladimir Putin has reminded prosecutors that seizing assets and turning them over to state ownership is only justified in cases where failing to act might jeopardise Russia's national security. Many assets in Russia have changed hands in the last two years. Hundreds of foreign companies left Russia after Moscow sent its troops into Ukraine in February 2022, in some cases selling cheaply to local management. Moscow has taken temporary control of assets owned by several Western companies including Fortum, Carlsberg The number of cases where prosecutors seize assets through the courts, including those related to Russia's defence industry, has increased, with some related to privatisations that are around 30 years old. More than 1 trillion roubles' ($10.9 billion) worth of strategic enterprises and assets were transferred to state ownership by Russian courts last year, Prosecutor General Igor Krasnov said in March. "Recently, law e
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