Western ‘theft’ will backfire, Russian tycoon warns
Vladimir Potanin. © Sputnik/Alexei Druzhinin
RT | January 23, 2023
Western countries are sawing off the branch they are sitting on by confiscating Russian assets, billionaire businessman Vladimir Potanin believes.
Following the launch of Russia’s military operation in Ukraine in February last year, multiple countries have frozen assets belonging both to the Russian state, and private companies and individuals to the tune of more than $300 billion.
In an interview with Russian media outlet RBK published on Monday, Potanin, the largest shareholder of mining giant Nornickel, said: “The confiscation [of assets] is a covert or overt form of theft,” and destroys “the investment climate of the jurisdiction where this is happening.”
Potanin noted that the countries comprising the ‘collective West’ had based their societies upon respect for private property.
The recent freezing of Russian assets “will backfire on them,” he said, adding that Russia should refrain from mirroring these measures.
He went on to suggest that by exercising respect for property rights, Moscow will be in a stronger moral position when it fights for its frozen assets in the West, and will send the right signals to entrepreneurs at home.
Potanin also warned against nationalizing property left behind in Russia by Western businesses – instead, the authorities need to “give the investment community the opportunity to solve this problem on its own.” He noted that the exodus of Western companies from Russia has allowed local investors to buy up assets at relatively low prices.
Potanin described the Western sanctions as “absolutely destructive and even, apparently, absolutely illegal,” and in his view, what we are seeing right now is the destruction of basic global rules.
The billionaire acknowledged that Western sanctions have put his plans for overseas business expansion on hold and have adversely affected his ability to travel the world, though he has now switched to exploring Russia instead, he added. Potanin nevertheless expressed confidence that the West “will come to their senses” sooner or later.
1 Comment »
Leave a Reply
Featured Video
AAP greenlights dangerous drugs & aggressive surgeries for obese kids
For more videos go to the Aletho News – Video Category
or go to
Aletho News Archives – Video-Images
From the Archives
1988: Maldives completely under water in 30 years
Agence France Press, September 26, 1988
Blog Roll
Recent Comments
papasha408 on US to arm Ukraine with ‘longer… papasha408 on Author Martin Sandler: Mossad… Bill Francis on Lauterbach in 2020: “Sch… brianharryaustralia on MIT Expert on Drug Safety Call… 4justice on The Dictionary Definition of “… Peter on Lauterbach in 2020: “Sch… Peter on Australian Health Authorities… brianharryaustralia on Plan to blockade Russian shipp… tracy on Plan to blockade Russian shipp… brianharryaustralia on Let the Crow Eating Begin Peter on Joe Biden Says “Our Work Is Fa… Mr Reynard on Plan to blockade Russian shipp…
Aletho News- US to arm Ukraine with ‘longer-range’ missiles February 1, 2023
- Author Martin Sandler: Mossad may have assassinated JFK February 1, 2023
- Rights group submits objection to US plans to build new embassy in Jerusalem February 1, 2023
- Australian Health Authorities Call For More COVID Boosters… But The Public Says No February 1, 2023
- Let the Crow Eating Begin February 1, 2023
- Lauterbach in 2020: “Schools drive the pandemic, the research is clear.” Lauterbach in 2023: The belief that many infections occur in schools and day-care centres “did not prove to be correct” January 31, 2023
- Acute Psychosis after COVID-19 Vaccination January 31, 2023
- Joe Biden Says “Our Work Is Far from Over!” January 31, 2023
- Croatia’s President Doesn’t Want Be West’s ‘Circus Poodle’ in Ukraine Crisis January 31, 2023
- Amount of frozen Russian investments revealed January 31, 2023
- Plan to blockade Russian shipping in Baltic Sea breaks international law and could provoke war January 31, 2023
- Pentagon’s prediction of ‘inevitable’ conflict with China shows war is America’s primary ‘export’ January 31, 2023
- US, South Korea vow to expand war games amid tensions in Korean Peninsula January 31, 2023
- What is covered by the “pictures of the Russian train”? January 31, 2023
- MbS urged Baghdad to set up Iran-Saudi meeting: Iraqi FM January 31, 2023
- Isfahan incident may have been foreign provocation January 31, 2023
- American Academy of Pediatrics greenlights dangerous drugs & aggressive surgeries for obese kids January 31, 2023
- The Censorship of Mercola — A Timeline January 31, 2023
- OffGuardian
- Incentivizing Censorship: A Snitch in Every Skull February 1, 2023
- How to Memory-Hole a PSYOP January 31, 2023
- Down Cricket Road January 30, 2023
- Richie Allen
- Florida Governor Cuts Funding For University Diversity Programs February 1, 2023
- 16 Year-Old Runner Quits World Championships To Save Planet February 1, 2023
- 1 in 4 UK Adults Can’t Get GP Appointment January 31, 2023
- Uni Cancels Lent & Easter To Be More Inclusive January 30, 2023
- Consent Factory
- How to Memory-Hole a PSYOP January 30, 2023
- If Americans Knew
- Author Martin Sandler says Mossad may have assassinated JFK January 31, 2023
- 3 more Palestinians dead – one shot in the head for honking his horn January 30, 2023
- Israeli government: stories you may have missed January 28, 2023
- Not A Lot Of People Know That
- Why There Is No Climate Crisis February 1, 2023
- 5 charts explain gas & power price slump into 2023 January 30, 2023
- Why Environmentalists May Make This Whale Species Extinct January 30, 2023
- Forget Net Zero: Oil and gas investment needed for another 30 years, BP warns January 30, 2023
- No Tricks Zone
- Reclaim The Net
- An error has occurred; the feed is probably down. Try again later.
Aletho News 
These actions by Western nations, are cutting off their noses to spite their faces. Other than the West, nations will see these actions as a Threat to themselves, if they ever contemplate making investments in these countries, when they now KNOW, any such investments can be held to RANSOME by such countries at the least, and at the worst, simply STOLEN, as is happening right now. What country in it’s right mind, would seek to invest in foriegn lands when faced with such realities ?????
LikeLike