MOSCOW, November 7. /TASS/. Russia is introducing temporary management of foreign companies if they fail to comply with their obligations, including social mandates, or violate domestic law, Finance Minister Anton Siluanov told reporters.
"Russia is taking reciprocal measures by introducing temporary management in respect of a number of companies from unfriendly countries. Specifically, for such purposes, the Russian Presidential Decree 'On the temporary management of certain assets' was issued in April 2023. However, it should be noted in particular that this occurs in exceptional cases when companies do not comply with their obligations, including those of a social nature, or violate Russian legislation," Siluanov said.
He recounted that, since 2022, unfriendly countries have been imposing sanctions against Russia, its citizens and legal entities.
"European Union countries and other Western countries are intensively working to create legal conditions for the confiscation of frozen Russian assets. They have introduced temporary management in relation to the subsidiaries of Russian companies, depriving Russian legal entities and individuals of their property rights or restricting them," the minister noted.
He added that, as a reciprocal measure, Russian President Vladimir Putin issued a decree "On the temporary management of certain assets" in April 2023.
However, foreign companies acting in good faith are able to receive support from the Russian government and relevant ministries for resolving issues related to the continuation or mandatory adjustment of their operations in Russia, Siluanov noted.
"Relevant appeals are reviewed by a subcommittee of the government commission for monitoring foreign investment, whose work is aimed at ensuring appropriate conditions for the ongoing presence of interested foreign companies in the Russian market," Siluanov said.
Statements by Danish brewer Carlsberg
Earlier, the Finance Ministry noted, in connection with a statement by Danish brewer Carlsberg Group about the "illegal takeover" of its business in Russia, that the introduction of temporary management over Baltika Breweries does not entail any change in the ownership structure, and the company is not being put under state ownership.
On October 3, Carlsberg Group notified Baltika about the termination of licensing agreements that allowed the Russian brewer to produce and sell all Carlsberg products, including international and regional brands. The Danish company explained that the termination of the licensing agreements was in response to the Russian presidential decree dated July 16, published on the official portal of legal acts, concerning the transfer of foreign owners’ equity stakes in the Russian entity of French dairy products giant Danone and in Baltika to the Russian Federal Property Management Agency’s temporary management. The list of affected assets included a 98.56% equity stake in Baltika Breweries held by Sweden-based Carlsberg Sverige Aktiebolag, a 1.35% stake held by Hoppy Union (part of the Carlsberg Group), and a 0.09% stake held by Carlsberg Deutschland GmbH (Carlsberg’s German subsidiary).