Posted on 12/03/2023 3:31:28 AM PST by Timber Rattler
President Vladimir Putin has signed a decree putting St Petersburg's Pulkovo Airport under the temporary management of a Russian company, wresting control from investors from Germany, Qatar and other Gulf states.
The decree, signed late on Thursday, stated that a Russian holding company had been set up to manage the asset, with the rights of German airport operator Fraport (FRAG.DE) and Qatar's sovereign wealth fund Qatar Investment Authority among those to be transferred to Russian hands.
"We must first verify the information and examine what this means in future for our involvement in St Petersburg, which we have put on hold since the Russian war of aggression," a Fraport spokesperson said.
(Excerpt) Read more at reuters.com ...
Did the investors stop working the airport since the war started? Sounds like they pretty much abandoned it.
With all of the sanctions on Russia, does it really matter.
So it must be OK for Western countries to seize Russia’s assets then too? (They’ll come in handy to help fund Ukraine)
since Russia has now set the example ...
That' a whole new level of stupid right there, even for zeepers.
let’s copy Russia’s move
since Russia thinks its OK to seize other countries’ assets
that $300 billion in seized Russian assets will keep Ukraine going for YEARS! And at no cost to the US taxpayer!!
Double down on the stupid why don’t ya! The west set the precedent. You idiot zeepers were warned. Dumb neocons.
maybe Putin shouldn’t have illegally invaded a sovereign country, then Russia’s assets wouldn’t be at risk of being seized
“Stroke of the pen. Law of the land. Kinda cool.”
Do any US airports operate under foreign control?? I don’t know, just asking.
Equity is still maintained by the foreign investors but their shares have been converted to non-voting shares for the time being. The logic is to avoid foreign control of critical infrastructure. Profits will still flow, so there is no seizure.
Don’t know about Putin’s motives but our ports along the Space Coast are being dominated by foreign countries also. And our Congress allows it to this day.
I hope Pres Trump is paying attention
“ …a Russian holding company had been set up to manage the asset…”
You said, “ Profits will still flow…”
Right into the pockets of the Putin supporters he put in charge. Another sop to the oligarchs.
YOU ARE TOTALLY CORRECT
PROFITS WILL “STILL FLOW”——FOR HOW LONG?????
Ownership remains as it was, and profits will be paid to whoever they were paid to before. The only difference is that the foreign shareholders cannot screw around with the infrastructure.
These are very modest changes considering the ridiculous sanctions pressure that the collective west is pushing on the RF.
From the article: “Previous asset seizures saw the nephew of Chechen leader Ramzan Kadyrov put in charge of French yoghurt maker Danone’s (DANO.PA) subsidiary in July and the former head of Baltika Breweries, Taimuraz Bolloev, given control of Danish brewer Carlsberg’s (CARLb.CO) stake in the company.”
From FT: “Carlsberg writes off value of Russian operation - Financial Times
Oct 3, 2023 After the seizure of Baltika, a close friend of Vladimir Putin from the president’s native St Petersburg, Taimuraz Bolloev, was installed as Baltika’s director.”
Only a Putinista would believe that there will be any profits to pass on after going through the hands of these kinds of Putin supporters.
The US has already seized assets of Russian oligarchs and frozen hundreds of millions of Russian investments.
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