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Ukraine war

Don't take Russia back to 1917, Norilsk Nickel head warns

Kremlin should not confiscate foreign companies' Russian assets, says Potanin

"We should not try to 'slam the door' but endeavor to preserve Russia's economic position in those markets which we spent so long cultivating," says Norilsk Nickel President Vladimir Potanin.   © Reuters

LONDON (Reuters) -- Confiscating the assets of companies that have fled Russia after the invasion of Ukraine would shatter investor confidence for decades and take Russia back to the calamitous days of the 1917 Bolshevik Revolution, metals magnate Vladimir Potanin said.

Potanin, the biggest shareholder in Norilsk Nickel, the world's largest producer of palladium and refined nickel, said Russia should respond with pragmatism to its exclusion from whole swaths of the global economy.

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