20.6 C
New York
Wednesday, September 28, 2022

Latest Posts

Kommersant: Putin’s decree blocked the exit of Enel and Fortum from Russia

- Advertisement -

THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.

- Advertisement -

The deal on the sale of Russian energy assets to the Italian Enel, the controlling stake in Enel Russia, announced earlier, was frozen for an indefinite period, Kommersant newspaper reports today.

As the publication explains, the reason for this situation is the decree of Russian President Vladimir Putin, who, until December 31, 2022, prohibited Western investors in the fuel and energy complex and energy from leaving Russian business except with special permission.

A similar fate befell the Finnish concern Fortum, which in July actively collected buyers’ applications for its Russian assets.

- Advertisement -

At the same time, Kommersant sources indicate that if European companies are forced to stay in the Russian Federation, they will have to focus on finding ways to service Western equipment in the face of significant restrictions.

Recall that earlier hundreds of foreign firms, including manufacturers of well-known world brands, announced a temporary or complete “withdrawal” from the Russian market (cessation of production, suspension of investments or activities in the Russian Federation), in response to Russia’s special military operation in Ukraine (from 24 February 2022) and subsequent Western sanctions.

Source: Rosbalt

- Advertisement -
spot_imgspot_imgspot_img

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.