Next up: An article from Alexander Reid-Ross titled ““Mr. Putin, Get Your Red-Brown Paws Off My McChicken iPhone.”

By Peter Weber, The Week

The Russian government and general prosecutor’s office are considering a proposal to nationalize the assets of foreign companies that are suspending operations or pulling out of Russia over its invasion of Ukraine, the Russian newspaper Izvestia reported Thursday. The report included a list of nearly 60 companies, including McDonald’s, Apple, IKEA, Microsoft, IBM, and Porsche. “All of these businesses have offices, buildings, factories, storefronts in Russia” that could be “forcibly taken by the state,” BBC News reports.

White House Press Secretary Jen Psaki publicly warned the Kremlin last Thursday that “any lawless decision by Russia to seize the assets of these companies will ultimately result in even more economic pain for Russia.” She said nationalizing foreign assets would squander any trust Russia has built up since it scared off all foreign investors in the Bolshevik Revolution.

Earlier this week, Russia effectively legalized patent theft, issuing a decree that patent protections will not be enforced for anyone affiliated with its list of “unfriendly” countries.

President Biden, meanwhile, is expected to announce on Friday the removal of Russia’s “most favored nation” trade status, in concert with the European Union and G-7 nations. That will allow the U.S. and its allies to slap tariffs on any Russian imports not already blocked by mounting sanctions. Fitch on Wednesday joined the other two major credit rating agencies and downgraded Russia’s sovereign credit to junk status, warning of an “imminent” default on Russia’s sovereign debt.

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