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News > Russia

Unlike The West, Russia Will Respect Property Rights

  • Russia will not nationalize foreign assets. March. 16, 2022.

    Russia will not nationalize foreign assets. March. 16, 2022. | Photo: Twitter/@AfricanSoil

Published 16 March 2022

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. 

Biden: Ukraine-Russia Conflict a “Long and Difficult” Battle

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.

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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