As companies leave Russia, their assets could be seized

Hundreds of foreign brands have suspended operations in Russia since the invasion of Ukraine began

The “Evropeisky” mall in Moscow was once a symbol of a Russia integrated into the global consumer economy, with atriums named after cities like London, Paris and Rome.

But now large parts of the seven-story shopping center have gone quiet after Western brands from Apple to Victoria’s Secret closed their Russian operations in the two weeks since the country invaded Ukraine.

Hundreds of companies have similarly announced plans to curtail ties to Russia, with the pace accelerating over the past week as the deadly violence and humanitarian crisis in Ukraine worsens, and as Western governments ratchet up economic sanctions.

Russian President Vladimir Putin responded Thursday by saying that if foreign companies shut down production in Russia, he favored a plan to “bring in outside management and then transfer these companies to those who want to work.”