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Russia threatens to nationalize Apple and seize assets
Several reports indicate that Russia is threatening to nationalize companies that have ceased operations in the country, including Apple.
From CNN:
Russia has said it could seize the assets of Western companies that have suspended operations in the country.
Dozens of American, European and Japanese companies from almost every sector of the economy have abandoned joint ventures, factories, stores and offices in the past two weeks in response to the invasion of Ukraine by the Russia and the resulting sanctions
Vladimir Putin reportedly told government officials on Thursday that Russia was considering setting up “external management” for companies that had ceased to operate in the country following its invasion of Ukraine. This would include Apple, as well as companies like Microsoft, IBM, McDonald’s, IKEA, etc. Putin reportedly said: “We must act decisively with those [companies] who are going to close down their production… then you have to… introduce external management and then transfer these companies to those who want to work.”
The measures could see the accounts and assets of these companies seized, or could see them placed under external management or nationalized. Apple does not operate any retail or manufacturing stores in the country, but has staff located in the country, including a headquarters that opened in February to comply with government law.
A host of companies, including Apple, ceased operations in Russia in direct response to its invasion of Ukraine. Russia has responded with its own measures, including banning many Western media and apps, including Instagram, which will shut down from Monday, March 14. Apple has stopped selling products in the country through its online store and removed the Russia Today and Sputnik media platforms. That means devices like Apple’s best iPhone, the iPhone 13, aren’t available for purchase on the company’s website. Third-party resellers that are still operating have increased their prices by 50% since the invasion began.
