Russia threatens to nationalize companies that close over Ukraine war
March 11, 2022
President Vladimir Putin supports a plan to nationalize foreign-owned businesses that have suspended or ended operations in Russia over that county’s unprovoked attack on neighboring Ukraine. The threat of nationalization was rebuffed by the White House, with vows that even more economic pain would be visited on Russia should it take such action. Companies that had property seized would also be likely to sue the country. Russia’s economy has been in a free fall following sanctions levied by the U.S and European nations.
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