December 6, 2022

The Queens County Citizen

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The Russian prosecutor’s office has ordered strict control over foreign companies leaving Russia

The Russian prosecutor's office has ordered strict control over foreign companies leaving Russia

Russia’s prosecutor’s office on Friday ordered the imposition of “strict controls” on foreign companies that claim to be suspending their operations in the country due to Russian military intervention in Ukraine.

“Prosecutors will establish strict control over labor law, the terms of employment contracts, the payment of wages, and the performance of contractual obligations to contractors and the Russian Federation,” the official said. The Attorney General said in a statement.

The statement also emphasized that the decision was taken “to” firmly suppress the efforts of companies that have left Russia “to” unilaterally fulfill their obligations “.

In addition, he promises criminal proceedings against companies that initiate “fictitious or premeditated” bankruptcy.

In the wake of the influx of powerful Russian troops into Ukraine, a large number of companies in Russia, from Coca-Cola to H&M to McDonald’s, IKEA, Shell and BP, have announced that they will suspend or cease operations.

Without uttering the word “nationalization”, Russian President Vladimir Putin on Thursday called for the appointment of “external” managers at the head of foreign companies that have left the country “to transfer to those who want to work for them”.

Millions of jobs are being threatened, but there is also a risk that Western sanctions, which could hurt the Russian economy, will push Russia into a deeper financial crisis.

They have already caused the ruble to fall and inflation to accelerate further.

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