Image by Дмитрий Осипенко from Pixabay
Any businesses that left stuff behind when they stopped doing business in Russia - looks like that stuff will be Russia’s, soon. Apple Insider highlights a piece from The Washington Post saying the country “is moving forward with a plan to nationalize assets left behind by Western firms like Apple that have departed the country.”
For Apple, this is probably not a huge deal. Yes, the Cupertino-company did just open an office or offices there last month. That said, Apple has no stores in Russia and does no manufacturing there, so it’s hard to see how the move would have a major physical impact on Apple. Could be a lot worse for a lot of other companies though, including Ikea, Microsoft, IBM, Toyota, McDonald's, and H&M - all of which Russia is eyeing for nationalization, in addition to Apple. Assuming the move passes, which seems like a given, Apple Insider says the Putin-endorsed plan:
…would allow the government to request court orders to impose external management on factories, shops, and other facilities left behind by companies that have fled Russia…
Putin’s people have said the nationalization move would “prevent bankruptcy and preserve jobs.” The government would run the businesses for about three-months. Past that, the businesses could go up for auction. Or… you know… businesses could come back and pick up where they left off. Either that or they could “sell their assets in a manner that preserves jobs and business activities,” according to the report.
