External management introduced for firms from countries holding Russian assets — Kremlin

Russian Politics & Diplomacy October 16, 13:18

Dmitry Peskov stressed that the move is not aimed at a change of ownership

MOSCOW, October 16. /TASS/. External management is being introduced primarily for companies from countries that are unfriendly in the full sense of the word, that are unlawfully holding Russian assets and expropriating Russian property, Kremlin Spokesman Dmitry Peskov told a briefing.

"This refers to countries that are participating in the unlawful holding of Russian funds, Russian assets, and are taking part in the unlawful expropriation of property belonging to Russian companies," he said. "In other words, unfriendly in the full sense of the word," Peskov added.

Earlier, Russian President Vladimir Putin signed a decree placing the Russian assets of flooring manufacturer Tarkett, as well as those of Ontex, the owner of the Helen Harper diaper brand, and three foreign packaging companies, under external management.

The Kremlin has said that the move is not aimed at a change of ownership, adding that the mechanism of external management is designed to prevent the suspension of operations at key production facilities affiliated with Western companies for political reasons due to pressure from the governments of unfriendly countries.

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