Dangerous situation for companies that are active in both countries.
Berlin The West is taking severe sanctions against Russia because of the war of aggression against Ukraine. Kremlin chief Vladimir Putin also issued counter-sanctions.
Western companies are to take these punitive measures. According to the German foreign trade agency GTAI, the Russian Ministry of Economic Development has launched a bill for the nationalization of the property of foreign companies leaving the country.
This should be adopted this week. According to this, companies that are more than 25 percent owned by foreigners from “unfriendly countries” can be subject to external administration, split off and sold.
Attorney Richard Happ from the Luther law firm, who represents companies and states in arbitration proceedings, warns: “For foreign companies and investors, the counter-sanctions can have serious consequences.” The law would be tantamount to expropriation. Questions of German-Russian investment protection would inevitably be raised.
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