Russia may nationalize McDonald's and Apple

The proposal to nationalize the property of foreign companies, voiced earlier by the United Russia party, was approved by the Government Commission.  The measure is one of the tools to support the national economy in the face of restrictions imposed by other countries.

The legal development may affect organizations that have announced the closure of production on the territory of the Russian Federation for the period of a special military operation. Among them are Volkswagen, Apple, IKEA, Microsoft, IBM, Shell, McDonald's, Porsche, Toyota, H&M, etc.

In this case, it is possible first of all to introduce an external management procedure in the companies and then liquidate old shares with the issuance of new securities.

This fate can overtake organizations in which at least a quarter belongs to foreigners from unfriendly states. Earlier, the government of the Russian Federation approved the corresponding list - it included the EU countries, as well as the USA, Japan, Canada, Great Britain, Australia and others.

According to the message published on the United Russia's Telegram channel, the bill provides for the possibility of refusing to introduce external management in a situation where the owner decided to resume operations or sell his share. The corresponding application must be made within five days from the date of the introduction of the procedure. If this does not happen, external management will be carried out for three months, after which the shares of the new company will be put up for sale, subject to the liquidation of old securities.