Foreign companies in Russia may go into external management

MOSCOW

The biggest political party in Russia introduced a bill Tuesday that would allow external management of foreign companies that suspended activities or left Russia because of the war in Ukraine.

The bill will be considered by the lower chamber of parliament, the State Duma, in the near future, the press service of the United Russia Party said in a statement.

The bill's goal is to protect the interests of the employees, the statement noted.

According to a draft, the external management will be introduced in the companies so that they continue functioning until the return of their foreign owners, or until the foreign owners decide to sell them.

In any reason the foreign owners will not lose their business in Russia, the statement said.

Many foreign companies suspended their work or announced about leaving Russia after the beginning of the Russia-Ukraine war on Feb.24.

Since then, at least 1,842 civilians have been killed and 2,493 injured in Ukraine, according to UN estimates, with the true figure feared to be much higher.

Over 4.5 million Ukrainians have fled to other countries, with millions more internally displaced, according to the UN refugee agency.​​​​