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1 Mar 2022


Russia temporarily bans foreigners from selling assets as a counter-reaction to world sanctions

Russia to temporarily ban foreigners from selling assets, 1 March 2022

Russia will temporarily stop foreign investors from selling Russian assets to ensure they take a considered decision, not one driven by political pressure, the prime minister said...as Moscow responds to intensifying Western sanctions.

Russia's huge sovereign wealth fund will also be pressed into action, spending up to 1 trillion roubles ($10.3 billion) to buy shares in Russian companies, a government decree showed...

"In the current sanction situation foreign entrepreneurs are forced to be guided, not by economic factors, but to make decisions under political pressure," Prime Minister Mikhail Mishustin told a governmental meeting. "In order to give business a chance to make a considered decision, a presidential order was prepared to impose temporary curbs on exit from Russian assets," he said, without giving details.

Russian authorities are hurrying to respond to increasingly harsh sanctions imposed by Western nations since Moscow invaded Ukraine...

Global companies which have operated in Russia for decades have said they will halt investments, including BP and Shell , shareholders respectively in Russia's top energy company Rosneft and Sakhalin 2 LNG plant...

On Tuesday, Connecticut Treasurer Shawn Wooden said he would direct the U.S. state's pension funds to sell Russian assets, for moral reasons and to reduce investment risk in the state retirement funds, worth more than $47 billion in all...