Russia Freezing EU Bank Assets and What Does the U.S. Have to Fear?

9 days ago
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20.12.2024 Video Credit and Source #GeoFlux - Russia’s threat of significant retaliation against Western assets has raised the stakes in the ongoing economic conflict. With Western assets in Russia valued at around $194 billion, including $32 billion owned by U.S. companies and $90 billion by European entities, the potential impact is substantial. The European Union’s recent implementation of its 15th sanctions package marks a further escalation.
The Kremlin has taken concrete steps against Western businesses, including asset seizures, mandatory discounts on sales, exit taxes, and profit repatriation restrictions. Notable actions include the expropriation of assets from companies like Carlsberg and Danone, and placing firms such as Ariston and BSH Hausgeräte under Gazprom’s “temporary external management.”
Western companies face significant challenges in Russia, with many unable to exit due to bureaucratic obstacles and potential losses. The corporate exodus has already cost Western businesses over $107 billion in write-downs and lost revenue. As tensions continue to rise, both sides are implementing measures to protect their interests, with the situation remaining dynamic and unpredictable. Source http://tiny.cc/GeoFlux
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