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Russia approves first step towards nationalising assets of firms that leave

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© Reuters. View of the Russian flag prior to meeting Russian President Vladimir Putin and French President Emmanuel Macron, St. Petersburg (Russia), May 24, 2018. REUTERS/Grigory dukor

(Reuters] – Russia’s ruling party United Russia said Wednesday that a government committee had approved the initial step toward nationalizing foreign companies that are leaving the country.

United Russia stated in Telegram that it had supported legislation allowing foreigners to own more than 25% of firms owned by companies from unfriendly countries to be placed into an external administration. This would prevent the loss of jobs and protect the economy.

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