NewStats: 3,261,088 , 8,173,023 topics. Date: Wednesday, 28 May 2025 at 08:14 AM 3b172k

Confiscating the assets of companies that have fled Russia since the invasion of Ukraine would shatter investor confidence for decades and take Russia back to the calamitous days of the 1917 Bolshevik revolution, metals magnate Vladimir Potanin has said.

Potanin, president and biggest shareholder of Norilsk Nickel (GMKN.MM), the world's largest producer of palladium and refined nickel, said Russia should respond with pragmatism to its exclusion from swathes of the global economy.

"We should not try to 'slam the door' but endeavour to preserve Russia's economic position in those markets which we spent so long cultivating," Potanin, 61, said on the Telegram messaging app.

Potanin, one of the most prominent Russian billionaires who is not sanctioned by the West, said confiscating assets from companies that had left would put Russia out in the cold for decades, as far as investors were concerned:

"It would take us back 100 years to 1917. And the consequences - a global lack of confidence in Russia from investors - we would feel for many decades."

Russia's economy is facing the gravest crisis since the 1991 fall of the Soviet Union after the West imposed sweeping sanctions across Russia's financial and corporate sectors following Moscow's Feb. 24 invasion of Ukraine.

Prime Minister Mikhail Mishustin said on Thursday that the government proposed putting companies that had left Russia into external istration.

The exact mechanisms of that are unclear, though there is a fierce debate within the Russian elite about how severe Moscow's reaction to Western sanctions should be, officials and businessmen said.

Putin said Russia would remain open for business and did not intend to close itself off from those who still wanted to do business.

But many do not - at least for now.

BP said last month it was abandoning its stake in Russian oil producer Rosneft (ROSN.MM) while companies ranging from McDonald's (MCD.N) and Coca-Cola Co (KO.N) to Toyota (7203.T) and IKEA have shuttered their businesses in Russia.

'WE MUST BE WISER'

Potanin’s upbringing as the son of a high-ranking Soviet trade official and an education at Moscow’s elite diplomatic academy have always set him slightly apart from other oligarchs who rose from rags to riches in the chaos of the 1990s.

The privatisation deals under President Boris Yeltsin gave Potanin and other oligarchs control over some of the best assets of a former superpower, though their clout was eroded under Putin as a new group of former spies put some of Russia's biggest oil production units under state control.

Besides being the world's largest producer of palladium and high-grade nickel, MMC Norilsk Nickel is a major producer of platinum and copper. It also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulphur.

Potanin said some countries used sanctions as a way to edge out competition, urging Moscow to consider its moves carefully.

He also urged Moscow to remove restrictions on servicing Russia's foreign currency debt, which he said totalled $480 billion. He said a technical default on interest payments could trigger demands for the full principal to be paid.

"This fully applies to major public companies," Potanin said. Russia said on Sunday that sovereign bond payments will depend on sanctions. read more

"We see that the West's own economies have suffered by imposing sanctions against Russia. So we must be wiser and avoid a scenario under which our sanctions hit us," Potanin said.

Putin says the "special military operation" in Ukraine is essential to ensure Russian security after NATO itted up to Russia's borders and Western countries ed pro-Western leaders in Kyiv.

Ukraine says it is fighting for its existence and the United States and its European and Asian allies have condemned the Russian invasion. China has called for calm.

https://www.reuters.com/business/dont-take-russia-back-1917-russias-metals-king-warns-2022-03-11/

Wow FTC
Hope, it will be a fruitful ceasefire on the verbosity flaring call.

CAN WE ALL AGREED TO HAVE PEACE?

Useni1 my Mai gida friend your attention is needed.

oh kay

While I commend the West's stand ( for Ukraine and sanctions) on Russia based on their unprovoked invasion of Ukraine, they need to know that not giving them a soft landing won't end the war anytime soon.

Russia needs a soft landing so they can have an excuse to stop the invasion. If they keep giving them sanctions without telling them sanctions would be lifted if they stop the war, then Russia no longer has anything to gain even if they stop fighting Ukraine. Putin is probably in regret right now, but shame would prevent him from stopping since there isn't any soft landing in place.

Diplomacy would do the West a great good at this time. If these sanctions persist, Russia would become another North Korea and would be a major threat to world peace. They need to give them a reason to stop fighting the war...

Fiction

You already gradually descending


Putin have inspiration it can defeat world powers

He was busy developing nuclear warheads while America was developing financial weapon

Hmmm, the conspiracy & hypocrisy of the west is about to end, with Mr Putin dogmatism. One button, one missile & all these will end.

# say no to hypocrisy & double standard.

News of 3 days ago

Always going to western media to copy propaganda ..........nairaland mods are mumu,always licking the black ass of their oppressors ..useless black race

dre11:


https://www.reuters.com/business/dont-take-russia-back-1917-russias-metals-king-warns-2022-03-11/

don't oh lol

Overrated, clueless, egoistical and cruel dictator. He wants to destroy the largest country on this earth because of his petty hatred and jealousy of the west. He will fail and someone will get rid of him soon.

Everything should be done to stop Putin before he becomes another Adolf Hitler

The conflict has been badly handled by both sides and could lead to grave economic consequences for the world ... Putin's invasion has been haphazard instead of the "blitzkrieg" we expected ..the deal was go in there and topple Zelensky within 48 hours not Minding any collateral damage , set up a pro Kremlin interim govt and pull back Russian military to the separatist regions and start Negotiating sanctions..Putin seems to have messed this up with the kid glove haphazard invasion....Putin is not a good strategist like we have all been made to believe if he was the proper thing to do was to crush the CIA coup of 2014 and we wouldnt be here but he sat down in Kremlin and let the CIA have their way..

Why una dey beg now


Shebi Putin dey form strong man, you never see anything ohhhh
Nigeria economy go better una soon

A

Always going to western media to copy propaganda ..........nairaland mods are mumu,always licking the black ass of their oppressors ..useless black race

una never see anything,,both of una er for nigeria go suffer am last last

They should not bring the war to Africa o,. Let them kill themselves we're still looking for food to eat






I still offer Instagram, Twitter, Facebook, telegram, tittok Spotify, YouTube followers, subscriber with comments, views stream and many more at an affordable price......... Service before payment

Obagofixxy:
Why una dey beg now


Shebi Putin dey form strong man, you never see anything ohhhh
Nigeria economy go better una soon

In 3 months time at this pace if war continues, our economy will be stronger than that of Russia

Tel that power drunken lunatic call putin

Normal western propaganda...

Trump we know, Trump we
Putin we stand for

Devil solder Tinubu's blockos

When a man cooks for the public the public will finish the food but when public cooks for a man, he can never finish the goods thereby it will leads to dance of shame

Putin should back off already because the war is needless at all

Russia can never defeat entire world

Forget all the nuclear weapon rubbish, it's man made and theres no assurance the weapon will be brutal as it's portrayed

nomenclature:
Always going to western media to copy propaganda ..........nairaland mods are mumu,always licking the black ass of their oppressors ..useless black race

Don't you guys get tired