A friend in greed. Russia is giving away the assets of Western companies to Putin’s friends. Who profits from the ‘temporary’ nationalisation of foreign assets? — Novaya Gazeta Europe
novayagazeta.eu
For the last year and a half, foreign businesses have been gradually leaving Russia and suffering losses, offering huge discounts to new owners and paying contributions to the Russian budget. But it seems that this is not the limit: Russian authorities have recently changed their strategy and started “temporarily” nationalising the property of Western investors. Novaya-Europe explains how businessmen close to the Kremlin gained control over Danone and Carlsberg and how much they will earn from the new assets.

A decree signed by Vladimir Putin transferred the assets of the French Danone (Danone Russia, Trade) and the Danish Carlsberg (Baltika) under the control of Rosimushchestvo, Russia’s state property management agency. The decree allows for the temporary state management of foreign assets in response to the seizure of Russian property abroad. Who profits from the ‘temporary’ nationalisation of foreign assets?