So the sanctions are pushing Russia back toward Communism.

ABC Australia

A Russian draft law could allow for the seizure of the assets of Western companies leaving the country, as the Kremlin pushes back against sweeping sanctions and the exodus of international businesses since its invasion of Ukraine.

Key points:

In the two weeks since the invasion started, Western brands including McDonald’s, Apple, Coca-Cola and Victoria’s Secret said they would suspend operations in Russia.

Hundreds of companies have similarly announced plans to cut ties to Russia, with the pace accelerating over the past week as the deadly violence and humanitarian crisis in Ukraine worsens, and as Western governments ratchet up economic sanctions.

Russian President Vladimir Putin responded Thursday by saying that if foreign companies shut down production in Russia, he favoured a plan to “bring in outside management and then transfer these companies to those who want to work”.

A draft law could allow Russian courts to appoint external administrators for companies that cease operations and are at least 25 per cent foreign-owned.

READ MORE