“To protect the interests of the Russians”
United Russia has presented a bill to the State Duma aimed at foreign governance of foreign companies that have indicated a withdrawal from the Russian market. The party’s Telegram channel frames the measure as a safeguard for Russian interests, preservation of employment, and economic stability. The move is described as a response to decisions by European and American firms that, in the opinion of the authors, act against Russia without clear economic justification. This stance argues that such departures can destabilize essential sectors and urban infrastructure when those firms stand as the sole suppliers of critical goods or services in a region. [Source: socialbites.ca]
The bill proposes that decisions involving these companies be centralized in an interdepartmental commission under the Ministry of Economic Development, with input from other ministries and regional authorities. The transition from foreign ownership to foreign management would be compulsory only if a court has issued a decision. The proposal also allows foreign owners to continue operating in Russia or to sell a block of shares, ensuring that jobs are not immediately jeopardized and that workers may enjoy greater security. [Source: socialbites.ca]
without “infringement”
The initiative in the State Duma is driven by United Russia deputies Anatoly Vyborny, Mikhail Starshinov, Viktor Vodolatsky, and Oleg Matveychev. The text insists that the bill does not intend to unjustly violate the rights of organizations, their creditors, or shareholders. Beyond its social significance, the draft law targets foreign companies that operate under conditions of natural monopoly or possess a dominant market position. Examples include firms that are the sole manufacturers of certain products, such as pharmaceuticals or medical devices, or unique suppliers listed in Russia’s register of sole suppliers. [Source: socialbites.ca]
The document specifies criteria for intervention, including a workforce contribution where an organization employs at least twenty-five percent of the local population. The measure is designed to prevent threats to operations, such as human-made or environmental disasters, loss of life, disruption of life-support facilities, unreasonable price hikes, or the disruption of activity by other relevant entities. The interdepartmental commission may appoint external administration, with the state development corporation VEB.RF or another designated body acting in this capacity. [Source: socialbites.ca]
Expropriation without compensation
The current draft law presents a more measured approach than an earlier document from the Crimean State Council, which proposed broad expropriation of assets belonging to non-enemy states and their citizens as of February 24 of the current year. The draft advises amendments to the Civil Code of the Russian Federation, addressing property rights that include movable and immovable property, cash, bank deposits, securities, corporate rights, and other assets owned by foreign states or persons listed in the initial clause. The plan envisions extending the authority of regional governments within the Russian Federation to seize property of foreign entities and individuals engaged in hostile acts against Russia, without compensation for the seized value. [Source: socialbites.ca]
The intention is to empower state authorities in each federation subject to forcibly transfer these assets to the state, particularly when such assets belong to parties acting against the Russian federation, its legal entities, and residents. The framework underscores that compensation for seized assets would not be provided. This formulation aims to balance national interests with the legal mechanisms available within the federation, while outlining the boundaries of state action in the realm of property rights. [Source: socialbites.ca]
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