Russia quickly offers bankruptcy to outgoing companies

© . The skyscrapers of the Moscow International Business Center, also known as “Moskva-City”, are seen just after sunset in Moscow, Russia July 12, 2018. REUTERS/Christian Hartmann/Files MOSCOW () – Foreign companies looking to leave Russia First Deputy Prime Minister Andrei Belousov on Friday said they will receive accelerated bankruptcy protection or transfer their interests to local managers until they return to Russia. Western sanctions imposed on Russia as punishment for the invasion of Ukraine have prompted dozens of international companies to suspend operations in the country and some, including energy giants BP (NYSE:) and Shell (LON:) have said they will will leave the country completely. The accelerated bankruptcy plan “will support citizens’ employment and social well-being so that bona fide entrepreneurs can ensure the effective functioning of business,” the government said in a statement on Telegram. Foreign companies can also just stay in Russia, Belousov added. Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media accepts no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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