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BBCNEWS Talking Business June 4, 2024 23:49:00

so we started a divestment process which is still going on. a couple of months back, actually, russia took over administrative control of our operations in russia, changed the ceo. and today, we have no access to information from the company, and we have no access to the cash flows. we don t get loan repayments from russia. and what happened after that is that we have written down, actually, our assets values in russia down to zero, and we have de consolidated the business. so from our point of view, that chapter is now behind us, and what we are doing today is we have started the processes under international investment protection treaties to claim our money back, and we continue the sales efforts as we still are the legal title holder to these assets. but we have no access to information or cash. and markus, we re talking about $2 billion can you ever get that money back? we actually invested even more than that over time.

BBCNEWS Talking Business June 4, 2024 22:50:00

our assets values in russia down to zero, and we have consolidated the business. so from our point of view, that chapter is now behind us, and what we are doing today is we have started the processes under international investment protection treaties to claim our money back, and we continue the sales efforts as we still are the legal title holder to these assets. but we have no access to information or cash. and markus, we re talking about $2 billion can you ever get that money back? we actually invested even more than that over time. but the net that we have invested was $2 billion. so typically, these international investment protection treaty cases, they take a long time. so they may take many years in various courts. but we do expect that, at some point in time, we actually do get compensated but that can be far out in the future. in the last year, markus, we ve seen hundreds and hundreds

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newsday.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.co.tt Daily Mail and Mail on Sunday newspapers.

Entertainer/politician thankful for Marabella West win - Trinidad and Tobago Newsday

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