Confiscation of the company’s assets would take Russia back to 1917

Russia’s metal king Vladimir Putinin of Entros, known as the founder of Russia’s oldest private investment group and owner of Norilsk Nickel’s largest assets, said companies that had announced their withdrawal from the Russian market should be approached to seize their ventures. Be very careful.

“This will take us back a hundred years to the 1917 (Bolshevik Revolution) and we will experience the unpleasant consequences of such a move – the global distrust of Russia by investors – for decades,” he said in a telegram messaging app. .

“The decision of many companies to suspend operations in Russia, I would say, is somewhat emotional and may be due to the unprecedented pressure from public opinion abroad. So they have a chance to come back. And personally, I will keep that option open for them, “he said.

“Incidents of nationalization – that is, the purchase of enterprises from the owners and subsequent transfer to state ownership – are known in recent history. It is a more civilized method, usually used to restructure the entire industry with subsequent privatization. That is why I am not sure whether it is reasonable to talk about nationalization of assets of foreign companies today, “he said.

According to Putin, a more relevant measure is the proposal of the Ministry of Economic Development – to introduce external management in such initiatives. “This will allow owners to retain their assets and companies to avoid collapse, continue to produce products and pay their employees,” Potanin believes.

Russia’s economic measures should be realistic and aimed at maintaining its position in the markets in response to the sanctions imposed by the situation around Ukraine, said the head of Norilsk Nickel.

“I think it’s very important that in the current context, Russia’s economic response mechanisms should be calibrated, realistically and not lead to additional difficulties for the domestic economy. Against the backdrop of the most irrational and even hysterical events in the world market, we must remain steadfast and calm, and our goal should not be to ‘knock on the door’ but to maintain Russia’s economic position in the markets we are occupying. Long, “says Putinin.

“This applies, for example, to the issue of Russian exports. It is no secret that many states use sanctions, among other things, as a tool of competitive struggle. It would be wrong if Russia contributed to this goal through its actions,” he said. Believe.

“Conversely, if we are” excluded “from the market, we should try to hold on to them instead of voluntarily giving up,” Norilsk said of Nickel’s main conclusion.

The company is the world’s largest producer of palladium and high-grade nickel, with a market share of 40% and 20%, respectively, and a major producer of copper and platinum.

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