Russia is threatening to seize the businesses of Western companies that have withdrawn from the country after it invaded Ukraine, escalating the economic conflict running parallel to the war itself.
Why it matters: More than 300 companies have announced they’re exiting or pausing business in Russia, according to a list compiled by Yale professor Jeffrey Sonnenfeld and the Yale Chief Executive Leadership Institute.
- Companies that have pulled out or paused their business there include some of the most iconic American brands, such as McDonald’s, Apple and Nike.
- If their assets are seized, it would make it next to impossible for them to re-enter the country if and when the geopolitical crisis subsides, likely forcing them to take losses if they haven’t already.
What they’re saying: Russia “will expropriate foreign-owned businesses in a relatively short period of time,” Hermitage Capital Management CEO William Browder tells…
