March 1, 2022
1 min read

Russia temporarily halts exit of foreign investments

Mishustin said in the current sanctions situation, foreign entrepreneurs are forced to be guided not by economic factors, but by making decisions under political pressure…reports Asian Lite News

Russia is temporarily halting the exit of foreign investments from the country, Prime Minister Mikhail Mishustin has announced on Tuesday.

The move comes in response to Russian capital being frozen abroad by the US, EU and their allies, RT reported.

“We hope that those who have invested in our country will be able to continue to do so in the future. I am sure that the sanctions pressure will eventually subside, and those who will not curtail their projects in our country, succumbing to the slogans of foreign politicians, will win,” Mishustin said at a daily briefing on Russia’s economic development.

The Prime Minister added that the Russian government’s working commission on countering Ukraine-related sanctions is moving into the mode of operational headquarters.

Mishustin said in the current sanctions situation, foreign entrepreneurs are forced to be guided not by economic factors, but by making decisions under political pressure.

“To enable businesses to make informed decisions, a draft Presidential Decree has been prepared to introduce temporary restrictions on exiting Russian assets. As practice shows, it is easy to exit the market, but it is much more difficult to return to a place that is already densely occupied by competitors”, the Russian PM said.

Moscow’s response follows harsh economic penalties imposed on Russia over the past week by the US and its allies, that oppose the country’s ongoing military intervention in Ukraine. The measures include disconnecting the largest Russian banks from the SWIFT payments system, freezing Russian assets and government reserves held abroad, as well as penalties against the country’s Central Bank.

ALSO READ-‘Russian compulsion, Chinese threats behind India’s abstention’

Previous Story

US will not have boots on Ukraine ground: Biden

Next Story

SCCI hosts Sharjah-India Business Forum

Latest from -Top News

Business Leaders Laud UK-India Trade Deal

The British government described the deal as the “biggest and most economically significant” trade agreement the UK has signed since leaving the European Union in 2020. Business leaders have today expressed strong

US Lawmakers Backs India’s Retaliation

Indian-American Lawmakers Endorses India’s Swift Response to Pakistan Tensions…reports Asian Lite News On Wednesday, one US lawmaker of Indian descent urged Pakistan not to exploit the ongoing tensions with India as an

U.S. Raises Alarm for Americans in Pakistan

Earlier, the US Department of State had issued a travel advisory in March, also urging its citizens to “reconsider travel to Pakistan due to terrorism and the potential for armed conflict.”…reports Asian Lite

Khawaja Asif: Peace Only If India Backs Down

The Indian strikes and Islamabad’s retaliation has jolted locals who fear that it could potentially lead to a full-scale war between the two countries…reports Asian Lite Ndews Pakistan’s Defence Minister Khawaja Asif
Go toTop

Don't Miss

India, Russia ties among world’s steadiest, says Jaishankar

EAM says Russia has regularly demonstrated an ability to influence

Seventh round of nuke talks held in Vienna

The seventh round of talks started on November 29, lasting