Foreign companies exiting Russia could face insolvency, nationalization of property - Medvedev

MOSCOW. March 10 (Interfax) - The Russian government is already considering the possibility of declaring insolvent and nationalizing the property of foreign companies exiting Russia, Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev wrote on his Facebook page.

Medvedev expressed the opinion that, "by bending to the sanctions", the companies are "actually leaving their teams to their fate."

"The Russian government is already working on measures that include insolvency and nationalization of the property of these foreign organizations," Medvedev said.

"The primary task is to prevent people from remaining on the street, to create new production facilities based on those abandoned in panic by foreign investors. This approach is objective and fair," the Medvedev believes.

As Medvedev recalled, he recently wrote that Russia would not tolerate the unreasonable seizure of property of Russian citizens and companies abroad.

"And I spoke about the need for a symmetrical response, including the seizure of foreign assets and their possible nationalization," Medvedev added.

The United Russia party previously proposed nationalizing the production of companies that announce closures in Russia during the special operation in Ukraine.