Report: Russia may nationalize and sell foreign assets in response to Western sanctions

On October 1st, according to a person close to the Russian government, as retaliation for possible European measures to seize Russian assets abroad, < b > Russia may nationalize all foreign-owned assets under a new privatization mechanism, and then quickly sell them . Russian President Vladimir Putin signed an order on Tuesday allowing the fast-track sale of state assets under special procedures. The decree is designed to speed up the sale of shares in a number of Russian and foreign companies, according to people familiar with the matter. If the European Union begins to seize Russian assets, Moscow may take corresponding measures. Hundreds of Western companies with operations in banking, consumer goods and other fields still operate in Russia, including UniCredit Bank, Austrian Central Bank International AG, PepsiCo and Mondelez International.