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

Vance Defends US Sanctions, Tariffs on India

Vance said the Trump administration is making it harder for Moscow to profit from its oil economy through measures that include tariffs on India….reports Asian Lite News US Vice President JD Vance

Bangladesh Rejects Dar’s 1971 Claim

During his two-day Dhaka visit, the first in 13 years, Dar made the claims after meeting interim Foreign Affairs Advisor Hossain…reports Asian Lite News Bangladesh has rejected Pakistani Deputy Prime Minister and
Go toTop

Don't Miss

India’s neutrality on Ukraine ‘disappoints’ bipartisan Senators

The US has been unhappy with India’s reluctance to criticise

Wang Yi, Lavrov discuss Ukraine, Afghanistan

The diplomats also agreed to confront the politicization of sports