March 18, 2022
1 min read

Come back now or face 10 year ban: Russia on firms’ exit

The Russian Duma Deputy Yevgeny Fedorov recalled that a number of foreign companies have suspended their work in Russia, the provision of services to Russians and investments….reports Asian Lite News

Russian State Duma Deputy Yevgeny Fedorov has proposed a 10-year ban on the work of foreign companies that will not return to the country’s market until May 1.

A copy of the letter addressed to the head of the Ministry of Economic Development Maxim Reshetnikov was reported by RT.

The deputy recalled that a number of foreign companies have suspended their work in Russia, the provision of services to Russians and investments.

According to him, they plunged tens of thousands of citizens into a state of uncertainty about their future work and well-being.

“I ask you to evaluate the feasibility of determining the conditions for the return of these companies: to allow them to promptly restore their activities until May 1, 2022, or to impose a ban on commercial activities for a period of 10 years for those enterprises that do not wish to restore work in Russia before the proposed date,” stated in the appeal.

Earlier, President Vladimir Putin supported the government’s idea of introducing external management for foreign companies leaving Russia.

According to him, the authorities have enough legal market tools for this.

Experts have said the appointment of a temporary administration at foreign enterprises is a more compromise option than the direct nationalisation of business.

ALSO READ: US, allies to take on Russian elites

Previous Story

‘Let his dreams resonate in every Bangladeshi hearts’

Next Story

‘Don’t Let Guard Down’

Latest from -Top News

Torkham opens partially

Pakistan eases its three-week border shutdown with Afghanistan to allow refugee returns, but trade remains halted as fragile ceasefire diplomacy struggles to contain wider tensions. Pakistan has partially reopened the Torkham border

Hasina named ‘fugitive’ in sedition case

Sheikh Hasina declared a fugitive in a sedition case as Bangladesh’s interim government faces escalating legal, political and constitutional uncertainty over the promised national election. Bangladesh’s tumultuous political landscape spiralled further on

JD Vance doubles down on conversion stance

Earlier, Usha Vance ruled out religious conversion for herself….reports Asian Lite News US Vice President JD Vance defended his earlier statement, in which he expressed a hope that his Hindu wife, Usha

Asia-Pacific leaders back inclusive trade

In a joint declaration, APEC leaders agree that trade should benefit everyone….reports Asian Lite News Following their regional forum meetings, Asia-Pacific leaders agreed on Saturday that trade and investment should advance in
Go toTop

Don't Miss

Zardari, Lavrov discuss matters of ‘mutual interest’

The two ministers also pledged to work closely for further

Russia’s Lavrov meets Jaishankar in Delhi

Lavrov’s visit comes soon after China’s foreign minister Wang Yi