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Russian President Vladimir Putin revealed on Wednesday that the country has no intention of nationalizing foreign assets in response to the expropriation of Russian property abroad.
"Unlike Western countries, we will respect property rights," said the president.
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The head of state, referring to the confiscation of the nation's foreign assets, noted that this is a situation from which Russian business people should learn. In this regard, he stressed the importance of investing at home, since
Last week, the Russian government proposed nationalizing the assets of outbound foreign companies in response to the confiscation of Russian-owned assets and money abroad.
according to the Russian president
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Russia will respect private ownership unlike the West – Putin
Russian President Vladimir Putin said on Wednesday the country has no plans to nationalize foreign assets in response to seizures of Russian property abroad. https://t.co/FRGbm6DvLr
Since the start of Russia's special military operation in Ukraine last February 24, the country has suffered from the imposition of many sanctions, primarily by Western governments and the European allies of the United States.
The assets of Russian business people have been frozen or seized and about half of the country's gold and foreign exchange reserves, some $300 billion, have been frozen by central banks. Hundreds of Western companies have suspended operations and investments in Russia due to the sanctions.
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