About past, present and future of Ukraine

Main Business — Dmytro Kuleba called on foreign companies to leave the Russian market immediately after the adoption of the bill on external administration by the Russian parliament

Business

Dmytro Kuleba called on foreign companies to leave the Russian market immediately after the adoption of the bill on external administration by the Russian parliament

24 May, 2022
191
Dmytro Kuleba called on foreign companies to leave the Russian market immediately after the adoption of the bill on external administration by the Russian parliament

Share this article


Today, the State Duma of the Russian Federation adopted the Draft Law № 104796-8 “On External Administration for Management of the Organization” in the first reading, which provides for the possibility of appointing an external administration for enterprises with at least 25% of foreign capital. 

If the document will turn into law, all international major shareholders are in danger of losing their investments and property in Russia. 

In fact, the bill, backed by the Russian parliament, creates unlimited opportunities for the state to influence business entities that have a foreign beneficiary part in it and allows covert nationalization of enterprises with foreign capital in the manual mode.

"Since a long time ago, Russia neglected all principles ruling in the world. Now they are preparing to spread their barbaric practices to foreign businesses. The proposed bill, in fact, legitimizes state raiding. After its adoption, any foreign company will be in danger of instantly losing its property. I appeal to international businesses that are still operating in the Russian market, and I urge them once again to leave Russia before it is too late. This is the last chance to save not only your reputation but also your property," said Ukrainian Foreign Minister Dmytro Kuleba.

It should be noted that the bill, in fact, contradicts not only the international treaties signed by Russia but also the norms and principles of the Russian Constitution itself, which prohibits arbitrary alienation of property by the state.

"I want to repeat the timely and profitable offer of President Zelensky for foreign companies that Russia is squeezing out of its market: transfer business to Ukraine. We will provide the best conditions and access to the large European market. With us, you will never worry that you can wake up in the morning without your business because the Kremlin decided so,” Dmytro Kuleba stressed.


The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...