Russia wants to temporarily prevent foreign entrepreneurs from withdrawing their investments

Russia wants to temporarily suspend the sale of its assets by foreign entrepreneurs in Russia to ensure it does not succumb to political pressure after the invasion of Ukraine. Russian Prime Minister Michael Michustin said on Tuesday that foreign entrepreneurs were not driven by “economic sanctions” in the current context, but by politics, according to Reuters.

The Prime Minister announced the President’s order that it was not possible to temporarily withdraw investment from the country. It is not yet clear on what basis the Russians want to prevent the withdrawal of entrepreneurs and how they want to execute the order.

The decision to protect Russia’s assets comes in response to Western sanctions imposed on Russia last week. The United States, the United Kingdom, Japan and the European Union have banned Russia’s major banks from accessing the international Swift payment system. The United States, the United Kingdom and the European Union have banned transactions with Russia’s central bank. The Russian ruble fell more than 30 percent on Monday as a result of sanctions.

This article is part of our live blog: Zhelensky: Europe needs to prove that it lags behind Ukraine