Vladimir Putin has seized multi-billion-dollar stakes in Russian ventures, including those of OMV and Wintershall. Additionally, Russia will take control of ROLF, the country's largest car dealership, owned by the family of a Kremlin critic in exile. The move, described as nationalization, places ROLF under temporary state management, prompting concerns about the country's investability. The nationalization streak is attributed to the inclusion of Cyprus, where ROLF's ownership is technically based, on Russia's 'unfriendly nations' list.
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
Russia will seize control of one of the country’s biggest car dealerships owned by the family of a wealthy Kremlin critic who is now living in exile https://t.co/jsABh9uVjI
Putin Seizes Multi-Billion-Dollar OMV And Wintershall Stakes In Russian Ventures https://t.co/Kx4yzNPSo2