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Putin Signs Decree Takin Over Russian Assets Of Two Foreign Firms

PARIS, France - President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signaling Moscow could take similar action against other companies if need be.

The decree - outlining possible retaliation if Russian assets are seized - showed Moscow had already taken action against Uniper SE's Russian division and the assets of Finland's Forum Oyj.

The decree said Russia needed to take urgent measures to respond to unspecified actions from the United States and others it said were ''unfriendly and contrary to international law''.

The shares in the two entities have been placed in the temporary control of Rosimushchestov, the federal government property agency, the decree said.

The CEO of state - owned bank VTB PAO had on Monday said Russia should consider taking over and managing the assets of foreign companies such as Fortum, only returning them when sanctions are lifted.

Rosimushchestvo said more foreign firms could find their assets under temporary Russian control, TASS reported. The agency would ensure the assets were in accordance with their importance for the economy.

''The decree does not concern ownership issues and does not deprive owners of their assets. External management is temporary in nature and means the original owner no longer has the right to make management decisions'', TASS cited the agency as saying.



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