The White House warned the Russian government Thursday evening against attempting to take control of the assets of companies in the United States and other countries around the world that have pulled goods and services out of Russia in protest of the Kremlin’s war in Ukraine.
White House press secretary Jen Psaki said in a Twitter thread that the Biden administration has seen “reports” that Russia is considering “seizing the assets” of U.S. and international companies.
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Psaki defended the companies and noted that President Joe Biden has said his administration welcomed the decisions “to exit Russia” by companies that “want no part” in the war.
Starbucks, Coca-Cola, Pepsi, and McDonald’s are among the growing number of companies that have announced they will be suspending business activity in Russia as a means to protest Russian President Vladimir Putin‘s invasion. BP, Shell, IKEA, Toyota, and Nike have also joined the list of companies severing ties with Russia over the war.
“Any lawless decision by Russia to seize the assets of these companies will ultimately result in even more economic pain for Russia,” Psaki warned. “It will compound the clear message to the global business community that Russia is not a safe place to invest and do business.”
We have seen reports that Russia may be considering seizing the assets of U.S. and international companies that have announced plans to suspend operations in Russia or to withdraw from the Russian market.
— Jen Psaki (@PressSec) March 11, 2022
“We stand with American companies who are making tough decisions regarding the future of their Russian operations,” Psaki wrote.
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The U.S. — along with allies Canada, the United Kingdom, and many others — has also hit Russia with economic sanctions, and there has been an influx of military aid to Ukraine in its fight against the Russia invaders.
Biden announced a ban this week on all U.S. imports of Russian oil and natural gas, seeking to impose maximum economic pressure on Russia for its deadly invasion of Ukraine.
