As Sanctions Bite, Russia Goes On The Offensive
Russian President Vladimir Putin has reacted to the ongoing mass withdrawal of companies from his country over its invasion of Ukraine. On Thursday he endorsed a plan to nationalize foreign-owned businesses that flee the country. The Russian government has been alarmed over job losses and other economic pain the exodus is inflicting. Putin’s approval of the plan, scheduled to be discussed in Russia’s parliament, came as Goldman Sachs said it was “winding down” its business in Russia, following hundreds of other Western firms that have closed or suspended operations. During a meeting with government officials Thursday, Putin said Russia must…
