Foreign management was introduced for companies from countries with Russian-Kremlin assets

Dmitry Peskov stressed that this move is not aimed at changing ownership

Moscow, October 16. /TASS/. Kremlin spokesman Dmitry Peskov told a briefing that foreign management was introduced mainly for companies from countries that are unfriendly in the full sense of the word, that illegally own Russian assets and confiscate Russian assets.

"This refers to countries that participate in the illegal holding of Russian funds, Russian assets, and participate in the illegal expropriation of property belonging to Russian companies," he said. Peskov added: In other words, unfriendly in the full sense of the word.

Earlier, Russian President Vladimir Putin signed a decree placing Russian assets of flooring manufacturer Tarkett, as well as assets of Ontex, owner of diaper brand Helen Harper, and three foreign packaging companies under foreign management.

The Kremlin stated that the purpose of this action is not to change ownership, and added: The foreign management mechanism is designed to prevent the suspension of activities in key production facilities belonging to Western companies for political reasons due to pressure from the governments of unfriendly countries.