For foreign companies still working out what to do with their stranded Russian assets, President Vladimir Putin’s seizure of a major oil and gas project is a powerful warning: Move fast or else.
who would normally play a key role in deals.Instead, companies are relying on lawyers invet suitors – making sure they are legitimate, not on sanctions listsn bakery business to Moscow-based rival Kolomenskij Bakerys of listed foreign companies.
When the company asked for clarification, its local legal advisers said it could have been a mistake.“So everyone was in a terrible hurry,” said Sebastian Jagerhorn, head of legal affairsgave conflicting advice along the way.“Soon they’ll retaliate, not just with gas, but in other ways,” said a senior executive whose company is struggling to get out. –
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