Author: Niall Hearty 22 March 2022
With Russia halting the exit of foreign investments from the country, in response to sanctions imposed on it over the invasion of Ukraine, Niall Hearty assessed the situation.
In an article, which was published by LexisNexis East, Niall outlines the options for those who face severe restrictions on what they can do with their investments in Russia.
One option, he says, is to wait and hope for an end to the war, which may then lead Russian authorities to loosen their grip on the foreign money that has been financing activities within its borders. But, he adds, such an outcome depends on Russian authorities being satisfied with the outcome of the invasion which will, in turn, be dependent on other powers dropping the sanctions that have been imposed on Russia.
There is, Niall explains, the possibility that the restrictions on foreign investments may come to be seen as the “new normal’’ by those with power in Russia, who may view this as the first step towards nationalising assets held by foreign companies.
He concludes that there may not be much that those with investments in Russia can do to hold, transfer or sell their assets in either the immediate future or the long term.
Niall's article can be read on LexisNexis East. (Subscription required)
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