Russia will impose a temporary halt to the sale of assets held by foreign nationals, prime minister Mikhail Mishustin said on 1 March 2022.
The move is to ensure that foreign investors looking to exit Russian assets make a considered decision rather than “under political pressure”, he said according to newswire Reuters.
“In order to give business a chance to make a considered decision, a presidential order was prepared to impose temporary curbs on exit from Russian assets.”
The prime minister did not give any additional details on the decision.
The move follows increasingly harsh sanctions imposed on Russia by western nations after its invasion of Ukraine last week, which included economic penalties, asset freezes, and the exclusion of some banks from the global Swift network.
Global companies have also taken action, with BP and Shell halting investments in Russian top energy companies, and financial institutions including JP Morgan, Liontrust, Pictet and BNP Paribas suspending Russia funds.
