Putin ordered 2 Western corporate giants to be seized after Kremlin-friendly businessmen expressed an interest in them: report
Russia has beenfor foreign firms to exit the country. In December 2022, the country started forcing corporate sellers to dispose of assets at a 50% discount.
Russia also imposed several other charges on exiting companies, on top of lengthy administrative processes, Insider previously reported. Given the corporate exits from Russia, authorities can acquire these abandoned assets at a massive discount and redistribute them, political analyst Ekaterina Kurbangaleeva wrote on the"The middle layer of Russia's social structure will be shaped by the redistribution of assets among those well-off Russians forced to focus on the domestic market by international sanctions," Kurbangaleeva wrote.
"In return for their loyalty, they will receive high-quality assets at a significant discount, which may turn them into a pillar of the regime and a source of patriotic optimism and even radicalism," she added. And this redistribution of assets could create"a new class of crony capitalists or oligarchs," Hassan Malik, a senior sovereign analyst at Boston-based investment management consultancy Loomis Sayles, told
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