ondon/Moscow (CNN Business)Russian President Vladimir Putin is trying to stem the flow of
Western businesses fleeing the country over his decision to
wage war on Ukraine.
Capital controls designed to stop the exodus were announced by Russian Prime Minister Mikhail Mishustin, state news agencies TASS and RIA reported on Tuesday. Western companies were taking decisions because of "political pressure," he said, and they would be prevented from
selling Russian assets until that pressure subsides.
"To enable businesses to make informed decisions, a draft presidential decree has been prepared to introduce temporary restrictions on exiting Russian assets," Mishustin was quoted as saying. "We expect that those who have invested in our country will be able to continue working here."
Oil giant BP (
BP) is one of the most prominent companies to abandon Russia since its troops invaded Ukraine last week. It said Sunday it was planning to exit its 19.75% stake in Russia's biggest oil company, Rosneft, and their joint ventures — amounting to one of the biggest foreign investments in Russia.