Russian assets of foreign companies, whose countries have introduced restrictions on the property of companies and individuals from Russia, can be transferred to the temporary management of the Federal Property Management Agency. The decree was signed by Vladimir Putin. The President of Russia immediately added to the list the assets of the German Uniper and the Finnish Fortum, which own power plants in Russia. The decision looks like a symmetrical response, for example, to the actions of Berlin, which introduced temporary management at the German enterprises of Gazprom and Rosneft last year.
Vladimir Putin signed a decree on the need to take urgent measures in response to unfriendly and contrary to international law actions of the United States and its affiliated states. We are talking about depriving Russian companies and citizens of property rights or limiting them. The document also refers to the threats that may appear to the security of the country. In such cases, the document says, the assets of companies or individuals from countries that commit unfriendly actions are transferred to the temporary management of the Federal Property Management Agency. The agency may recommend another administrator.
The decree came into force on April 25, and the list immediately included 83% of the shares of Unipro, which are owned by the German Uniper, 69% of Fortum Russia and 28% of Fortum Holding, owned by the Finnish Fortum.
Unipro is the owner of five thermal power plants (TPPs), and the company’s net profit last year amounted to more than 21 billion rubles. Since last year, Uniper itself has been under the complete control of the German government and has expressed its desire to sell Russian assets.
Fortum Russia and Fortum Holding, in turn, are seven thermal power plants, one wind farm and three solar ones. Fortum also announced its desire to leave the Russian market, which is limited by the laws adopted in Russia last year.
On the one hand, the German and Finnish companies own assets that need to be maintained for Russia’s energy security.
On the other hand, this is rather a response to the well-known actions of the German and Finnish governments in relation to Russian assets and liabilities in relation to Russia, says the deputy director of the FNEB Alexey Grivach.
At the beginning of April last year, the German government introduced temporary management in the Gazprom Germania enterprise, which controls, among other things, storage facilities and gas pipelines in Germany. And in the fall, Berlin also transferred to the management of the Federal Network Agency the German divisions of Rosneft, which own 54% of the large PCK refinery in Schwedt.
2023-04-26 07:04:00
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