Russia's economic war against with the West is entering a dangerous new stage, scholar says
The Kremlin has shifted its tactics against the West, and now looks to take over foreign assets within its borders, according to a Russia analyst.
After Moscow suffered court defeats that kept Russian assets frozen in Europe, the Kremlin has since established a legal framework to temporarily nationalize foreign assets in Russia, Prokopenko added. A key piece of Moscow's new retaliation strategy is a decree that President Vladimir Putin signed last month, that Prokopenko said gives the government's property management agency control over Western assets affected by halts to Russia operations and the ability to sell them to Russian buyers.also requires firms of"unfriendly nations" to pay a donation to Russia's war efforts, equating 5% to 10% the value of a sold asset.
Between this and Western constraints on selling to Russia,"a growing number of such companies look increasingly likely to lose their investments in Russia entirely," Prokopenko said.
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