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Reuters
Reuters
Business
By Alexander Marrow, Gleb Stolyarov and Anne Kauranen

Kremlin warns of more asset seizures after move against Fortum and Uniper

FILE PHOTO: Russian President Vladimir Putin chairs a meeting of the Presidential Council for the Local Self-Government Development via a video link at the Novo-Ogaryovo state residence outside Moscow, Russia April 20, 2023. Sputnik/Gavriil Grigorov/Kremlin via REUTERS

The Kremlin said on Wednesday it could seize more Western assets in retaliation for foreign moves against Russian companies, after taking temporary control of assets belonging to two European state-owned utilities.

President Vladimir Putin late on Tuesday signed a decree placing the Russian assets of Finland's Fortum and Germany's Uniper, which both operate power plants in Russia, under Moscow's control. Russia made clear that the move could be reversed.

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