June 20, 2024

Ukraine war: Russia’s richest man warns Vladamir Putin

1 min read

Ukraine war: Russia’s richest man has warned President Vladamir Putin over the Russian invasion of Ukraine.

Russia’s richest businessman has warned the Kremlin against confiscating assets of companies that have fled in the wake of the invasion of Ukraine, saying such a step would set the country back more than 100 years.

Vladimir Potanin, president of metals giant Norilsk Nickel (NILSY) and its biggest shareholder, said that Russia risked returning to the tumultuous days of the 1917 revolution if it slammed the door on Western companies and investors.

He warned Putin over Ukraine war urging the government to proceed with extreme caution regarding the seizure of assets.

“Firstly, it would take us back a hundred years, to 1917, and the consequences of such a step — global distrust of Russia on the part of investors — we would experience for many decades,” he said in a message posted on Norilsk Nickel’s Telegram account on Thursday.

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