Russian President Vladimir Putin has placed Russia's largest car dealership, ROLF, under temporary state management, effectively nationalizing the company. This move is attributed to commercial logic by the Kremlin, but the founder, Sergey Petrov, believes it makes the country uninvestable. The company, controlled by Petrov but technically belonging to an offshore in Cyprus, is on the 'unfriendly nations' list. This nationalization follows the struggle of Russian car plants to restart production after sanctions, with half of the 22 major car plants in Russia unable to resume operations even with Chinese assistance.
Bonus points if he wants to talk about it during sex. https://t.co/qFYLMCL7Tr
Half of car plants in Russia are dead #Russia had 22 major car plants. Half of them could not return to work after the sanctions imposition even after the change of ownership and #Chinese help. Kremlin planned to transfer the assets to investors from China, but were refused. https://t.co/ihRHj2JvrU
Ru business news 22/Dev/2023: 50% of Russian car plants couldn't restart their production after the sanctions. https://t.co/M0hwfStLyh https://t.co/StyPme4TOS
Putin has nationalized ROLF, Russia’s biggest car dealer. The company is controlled by Sergey Petrov but technically belongs to an offshore in Cyprus, which is on the “unfriendly nations” list. Putin has been on a nationalization streak this week. https://t.co/q47hHdFk4Q
President Vladimir Putin places #Russia’s biggest car dealership under temporary state management, in a step the Kremlin says is driven by commercial logic but which its founder says makes the country look uninvestable. https://t.co/znbvYKKO3Z
Putin "nationalises" Russia's largest car dealer https://t.co/COkSeYOYbY