Russia proposes nationalizing all foreign owned factories that have stopped operations

A senior member of Russia’ ruling party has called for nationalising all foreign-owned factories that have closed operations in the country over what Russian President Vladimir Putin termed as a special military operation in Ukraine to cleanse it of Neo Nazi influences and de-militarize it.

The development comes in the wake of the US Under Secretary of State for Political Affairs Victoria Nuland testifying before a Senate Foreign Relation Committee hearing on Ukraine admitting the presence of biolabs in Ukraine; the United States is working with Ukraine to prevent them from falling into the hands of Russian soldiers.

Several foreign companies including Nike and Ford have announced the temporary closure of their factories and stores in Russia in order to add pressure on the Kremlin to stop its invasion of Ukraine.

In a statement the general council of Russia’s ruling party’s Andrei Turchak said, closing down operations was a “war” against the citizens of Russia.

The statement mentioned Finnish privately owned food companies Fazer, Valio and Paulig as the latest to announce closures in Russia.

“United Russia proposes nationalising production plants of the companies that announce their exit and the closure of production in Russia during the special operation in Ukraine,” said Turchak. “This is an extreme measure, but we will not tolerate being stabbed in the back, and we will protect our people. This is a real war, not against Russia as a whole, but against our citizens”.

“We will take tough retaliatory measures, acting in accordance with the laws of war,” said Turchak.

Fazer, which makes chocolate, bread and pastries, has three bakeries in St Petersburg and one in Moscow. It employed nearly 2,300 people.

Valio had a cheese factory which employed 400 people in Russia.

Paulig had a coffee roastery and employed 200 people in the country.

Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

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