Russia wants to temporarily ban foreign entrepreneurs from withdrawing their investments

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Russia wants to temporarily ban foreign entrepreneurs from selling their assets in Russia, to ensure they are not swayed by political pressure after the invasion of Ukraine. Russian Prime Minister Mikhail Mishustin said on Tuesday, according to Reuters news agency, that foreign businessmen “are in the current situation with sanctions” driven not by economic factors, but by politics.

The Prime Minister announced a presidential order to make the temporary withdrawal of investment from the country impossible. It is not yet clear on what basis the Russians want to prevent the entrepreneurs from withdrawing and how they want the order to be enforced.

The decision to protect assets in Russia in this way comes in response to the sanctions imposed by Western countries on Russia last week. The United States, the United Kingdom, Japan, and the European Union have banned major Russian banks from accessing the international express payment system. The United States, the United Kingdom, and the European Union have banned transactions with the Russian Central Bank. The Russian ruble fell more than 30 percent on Monday as a result of the sanctions.

This article is also part of our live blog: Zelensky: Europe must prove that it stands behind Ukraine

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