The Ministry of Finance denies the artificial decrease in the value of assets of foreign companies

The price for the sale of assets of foreign companies when they leave Russia is set by a subcommittee of the government commission for the control of foreign investment and is not artificially lowered. This was reported by the press service of the Ministry of Finance of Russia.

“For companies that have decided to stay, the necessary conditions are being created, including permission to pay dividends and repay intra-corporate debt. Those who decide to sell their business are not forced by the subcommittee to reduce the final price,” the statement said. message.

The department added that the assessment of the value of assets is carried out by an independent appraiser. The price of assets may change if the commission indicates an incorrect assessment of the market value.

On the eve of Reuters, citing sources informedthat the Russian authorities demand higher discounts on the sale of assets of foreign companies leaving Russia. According to the agency, Western companies lost about $80 billion due to lost profits in the sale of their assets.

In March 2022, the Russian authorities introduced a rule according to which transactions of companies from unfriendly countries must be approved by a special commission. If the company’s assets are sold at a discount below 90%, non-residents must contribute to the budget of the Russian Federation at least 5% of their market value, if more than 90%, then the contribution must be at least 10%.

Olesya Pavlenko