Kremlin Uses ‘Temporary Administration’ to Tighten Grip on Western Investments

Moscow has placed the assets of 16 major foreign companies under state control by presidential decree, escalating its economic confrontation with the West.

The assets, estimated to be worth billions, have been brought under a mechanism described as “temporary administration.” The measure gives Russian authorities control over investments held by foreign businesses in the country.

The move comes in retaliation for the freezing of Russian assets, extending the dispute over financial restrictions to foreign corporate holdings inside Russia.

While the mechanism is labelled temporary, the decree’s scope puts significant foreign investments under Moscow’s authority. The information provided does not specify how long the administration will last or the conditions for restoring control to their owners.