Blindly complying with US-driven sanctions against Russia over its special military operation in Ukraine has come at a huge cost for a host of Western companies. Newly-released figures show the extent to which the measures have backfired.
Russian President Vladimir Putin has revoked the transfer of Danone’s Russian assets to the Federal Agency for State Property Management, Rosimushchestvo, for temporary management by the state. His reasons for doing this were not disclosed in the decree.
Some $300 billion in Russian assets were trapped abroad in 2022 after the escalation of the Ukrainian crisis into a full-on NATO-Russia proxy war. Western officials have threatened to seize these funds and transfer them to Ukraine for “reconstruction.” A pair of leading Russian economists tell Sputnik why that’s a very bad idea.
Russia s Finance Ministry will address the issue of granting the right to state support to foreign companies that are placed under the management of the Rosimushchestvo, said Finance Minister Anton Siluanov.
The Russian share of the Danone company, which was seized by the country's government in 2023, is set to be sold to a Chechen businessman with close ties to the Kremlin. Source: Financial Times with reference to its sources Details: The French company Danone will sell Life & Nutrition to the Russian dairy company Vamin Tatarstan, which is owned by 29-year-old Mintimer Mingazov.