Putin Critic Warns Kremlin Will Seize More Assets to Punish Foes [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Sergey Petrov could do nothing from his home in the outskirts of Vienna as Russian President Vladimir Putin moved to take over the car dealership he had founded and built. Putin signed the decree in December transferring ownership of Rolf, Russia's largest car dealership, from a Cyprus-registered entity controlled by Petrov's family to the state property agency Rosimushchestvo for temporary management. Soon after, armed officers raided the firm's headquarters to make sure the appointment of a new board went seamlessly, according to Petrov. Article content Article content “It's a kleptocracy,” Petrov said in an interview at his home in Austria, where he has resided permanently since at 2016. “There are no laws, only the selective application of justice.” During Putin's two-and-a-half decade rule, Russia has sought to build state-owned champions and at times used the cr
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