We have seen reports that Russia may be considering seizing the assets of U.S. and international companies that have announced plans to suspend operations in Russia or to withdraw from the Russian market.
These decisions are ultimately up to companies. As President Biden said earlier this week, we welcome the decisions of companies to exit Russia because they want no part of Russia’s war of choice against Ukraine.
Any lawless decision by Russia to seize the assets of these companies will ultimately result in even more economic pain for Russia. It will compound the clear message to the global business community that Russia is not a safe place to invest and do business.
Even a prominent Russian business leader with ties to President Putin has recognized this fact, saying it would “take us back to 1917” and that “the consequences of such a move - global distrust of Russia on the part of investors - we will experience for many decades.”
Russia may also invite legal claims from companies whose property is seized. We stand with American companies who are making tough decisions regarding the future of their Russian operations.
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