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Ukraine war

Russia's asset seizure threat confronts companies with grim choices

Businesses risk facing Russian courts, long arbitration as Moscow fights exodus

The walls and towers of the Kremlin are reflected in a window of a McDonald's restaurant in Moscow. The U.S. fast-food chain has decided to close all its stores in Russia.    © Reuters

TOKYO -- As Russia lays the groundwork for seizing the assets of foreign companies exiting the country, international corporations face a grim choice among financial losses, costly legal battles or reputational ruin.

Looking to soften the blow of sanctions squeezing its economy, Russia has drafted proposals that would let it take control of departing companies with more than 25% foreign ownership and hand them over to Moscow-friendly management.

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