Western countries have strongly condemned the Russian special operation in Ukraine and boosted the sanctions pressure on Moscow. Further, around 310 foreign companies have suspended, terminated, or limited their operations in Russia since the start of Moscow’s special military operation on 24 February.

Commenting on the situation, Russian President Vladimir Putin said it is necessary to act decisively with regard to foreign companies leaving the Russian market, and therefore external management should be introduced for their assets, as there are enough legal market instruments to do so.

Just a day earlier, Andrey Klishas, the chairman of the Russian upper chamber’s Committee on Constitutional Legislation, told Sputnik that assets of foreign companies that are suspending or terminating their services in Russia may be frozen, and property rights restricted.

On 24 February, Russia began a military operation in Ukraine, responding to calls for help from the breakaway republics of Donetsk and Lugansk to counter the aggression by Ukrainian troops. The Russian Defence Ministry said the operation only targets Ukrainian military infrastructure.