Prime Minister Mikhail Mishustin said that a draft presidential decree had been prepared on temporary restrictions on the exit of foreign businesses from Russian assets. These measures are planned to be applied in response to Western sanctions imposed due to the Russian military operation in Ukraine. Mr. Mishustin is confident that “the sanctions pressure will eventually subside.”
The Prime Minister held a meeting on improving the sustainability of the Russian economy. He said that because of the sanctions, foreign entrepreneurs are forced to “make decisions under political pressure.” “In order to enable businesses to make informed decisions, a draft presidential decree has been prepared to introduce temporary restrictions on exiting Russian assets,” he announced.
Mikhail Mishustin expressed confidence that the sanctions pressure on Russia “eventually subsides.” In his opinion, those who will not “curtail” their projects in Russia, “succumbing to the slogans of foreign politicians,” will win. “As practice shows, exiting the market is easy. But it is much more difficult to return to a place that is already densely occupied by competitors, ”he says.
On February 24, Vladimir Putin announced a military operation to “denazify and demilitarize” Ukraine. Western countries condemned this decision, demanded the withdrawal of Russian troops and imposed harsh sanctions that affected large Russian companies and banks. In particular, the European Union froze the assets of the Central Bank. Against this background, the ruble has updated a historical low. The Central Bank responded on February 28 by raising the key rate to 20%. Vladimir Putin also imposed a ban on Russians and Russian companies to credit currencies to their accounts abroad.
Read about the sixth day of the military operation in the Kommersant online broadcast.