The head of the Russian Union of Industrialists and Entrepreneurs announced the concerns of large businesses due to the seizure of assets

President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin said that cases of nationalization of private assets worry the business community. He said this in an interview RBC.

“No one here knows who might be next in line,” Mr. Shokhin shared his sentiments in the organization.

The head of the Russian Union of Industrialists and Entrepreneurs cited three main reasons that the Prosecutor General’s Office uses when reviewing the results of privatization. These may be rule violations in the 1990s. At the same time, according to Mr. Shokhin, the statute of limitations in this case is not taken into account. Or violation of the legislation on strategic business companies and participation of foreigners in privatization. And the third is a violation of the restrictions that anti-corruption legislation imposes on officials.

The head of the Russian Union of Industrialists and Entrepreneurs noted that the business could have changed several owners since privatization and the final owner could have ended up in a worse position. Therefore, decisions must be made based on “what kind of asset it is, what condition it is in, how much was invested in it.”

“Stability in the current conditions is more important than secondary reasons in order to take away assets from the current owners,” added Alexander Shokhin.

On September 8, the Arbitration Court of the Perm Territory satisfied the claim of the Prosecutor General’s Office for the seizure of 94.2% of the shares of Metafrax Chemicals JSC to the income of the Russian Federation. According to the prosecutor’s office, the plant is a strategic enterprise, and it was possible to privatize it due to the illegal actions of local officials.

More details in the text “Kommersant” “Methanol has become even more dear”.

Petr Buzlaev