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Polish gov’t approves bill to sell Russian-controlled firms

05.07.2022 23:00
Poland’s government on Tuesday approved a bill that would allow the sale of Russian-owned companies that had been sanctioned over the Kremlin’s invasion of Ukraine.
Waldemar Buda.
Waldemar Buda.PAP/Leszek Szymański

Under the bill, such firms will go into what is known as compulsory administration, Polish state news agency PAP reported.

Poland’s Development and Technology Minister Waldemar Buda told reporters that the government would appoint the administrators. 

Sanctioned entities to be sold

The administrators will prepare the sanctioned entities for sale, while protecting the interests of the workers, officials said. 

For instance, “organisations or companies set up by the workers will have the first option to buy a sanctioned entity,” Buda told the media.

The sale of the sanctioned entities will be carried out, where possible, with the consent of the owners; otherwise it can be ordered by a court, according to officials. 

Polish sanctions against Russian individuals and companies 

The Polish government in April slapped sanctions on 15 Russian oligarchs and 35 companies active in Poland, over Moscow’s assault on Ukraine. 

The list currently comprises 15 individuals and 34 firms, including Kaspersky Lab, Novatek Green Energy and PAO Gazprom, as well as Mikhail Freedman, the founder of Russia’s biggest private lender, ALFA Bank.  

Poland’s sanctions include a freeze on the finances and wealth of the listed entities. In addition, these companies are excluded from public tenders, while oligarchs are barred from entering Poland, officials said. 

Polish sanctions are complementary to restrictive measures imposed on Russian individuals and firms by the European Union, public broadcaster Polish Radio’s IAR news agency reported.


Source: IAR, PAP, bankier.pl