Putin Signs Order Allowing Seizure of Property Connected to 'Unfriendly' Nations
Russian President Vladimir Putin signed an executive order allowing the Russian government to strip property rights of people or entities from "unfriendly" countries. The property can be seized and handed over to the Federal Agency for State Property Management, Putin's office said.
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Russia used the order to seize control of utilities owned by Finland's Fortum Oyj and Germany-based Uniper SE.
The order says the government can take control of movable goods and properties in Russia belonging to "foreign parties with ties to unfriendly countries" and "also those belonging to the parties controlled by the said foreign parties," foreign-held securities, shares in authorized joint capital of Russian legal entities held by parties from unfriendly nations, and property rights held by parties from unfriendly countries.