Potanin opposed the confiscation and nationalization of foreign assets

The largest shareholder of Norilsk Nickel, Vladimir Potanin, opposed the confiscation of the assets of foreigners and Russians who left. He also did not support the nationalization of foreign enterprises that left Russia. According to the businessman, in Russia the economy “rather suffers from excessive state participation.” Note that, according to Forbes, Vladimir Potanin tops the ranking new owners of assets of foreign companies in Russia. This was due to the acquisition of the assets of the French financial group Societe Generale.

In an interview RBC Mr. Potanin saidthat asset forfeiture is “a covert or overt form of theft” that “destroys the investment climate of the jurisdiction in which it occurs.” He believes that in Russia “it is not necessary to repeat this” after the West. “Entrepreneurial activity and people’s motivation are based on respect for the right to property. Depriving them of this kind of motivation is a very harmful thing,” he said.

The head of Norilsk Nickel did not support the nationalization of foreign assets either. Instead, according to Vladimir Potanin, it is necessary to “develop the investment climate and replace some investments with others – domestic and from friendly countries.” “In principle, our economy is more likely to suffer from excessive state participation, so the new nationalization, in my opinion, runs counter to the financial and economic policy of our government and our country,” he said.

He also condemned the plans to confiscate the property of Russians who left the country. The businessman advised “to respect such beliefs, which, perhaps, are somewhat disliked by more patriotic people.” In his opinion, “taking away property and stigmatizing people ahead of time” is a sign of weakness, as well as a violation of property rights. “The programmers left, now there is a discussion about whether to let them back. People left, they probably had some reasons for this. They were confused about what was happening. But most of them continue to work for our country, economy, companies… Why push them away and drive them away? They will be hired by other companies, they are not made with a finger, ”— emphasized Mr Potanin.

In mid-January, State Duma Speaker Vyacheslav Volodin offered to introduce a clause on confiscation of property in the articles of the Criminal Code of the Russian Federation on incitement to extremism, rehabilitation of Nazism or discrediting the armed forces. Vice Speaker of the State Duma Anna Kuznetsova thinksthat it is possible to confiscate the property of Russians who left the country to solve the problem of housing for orphans. Head of the Constitutional Committee of the Federation Council Andrei Klishas pointed outthat this is impossible without amendments to the Criminal Code of the Russian Federation.

Read about the discussion in the publication “Kommersant” “Relocation with confiscation”.

Laura Keffer