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Putin Signs Decree Allowing State Control Over Assets from “Unfriendly” Countries

RUSSIA
  • Russia took control of utilities owned by Finland’s Fortum Oyj and Germany’s Uniper SE, the first such move from the Kremlin in retaliation for asset freezes by European countries over its invasion of Ukraine, Bloomberg report. President Putin signed a decree late Tuesday that allows the government to introduce “temporary” state control over the assets of companies or individuals from “unfriendly” states.
  • Foreign minister Sergey Lavrov hinted at the possibility of a prisoner swap involving two Americans detained in Russia, Paul Whelan and the Wall Street Journal reporter Evan Gershkovich. The channel to discuss detained American and Russian citizens remains open, Lavrov said.
  • Industrial production data is on the docket today at 1700BST/1900 local time (Est: -1.5% y/y; Prior: -1.7%).

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