Auto Industry To Lose Billions As Russia Eyes Stealing All Western Plants In Power Grab

The war in Ukraine continues to have ripple effects. A new report from industry bible Automotive News suggests Vladimir Putin is considering seizing the assets of automakers who left Russia in the wake of its invasion of Ukraine.

Ford, Mercedes-Benz, Renault, Stellantis, and Volkswagen are among the companies that left Russia behind in the wake of the fighting. Putin is apparently proposing nationalizing these and other companies, using the euphemism “external management.” Isn’t it grand how corporations and governments can use neutral-sounding buzzwords to soften the blow of misdeeds?

This is all in response to sanctions that are causing Russia pain.

 

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