Guest Post by Martin Armstrong
Putin has announced that he endorses a plan to nationalize foreign-owned businesses that flee the country over its invasion of Ukraine. This is signaling to the West that he can also play the same game. Putin’s approval of the plan is scheduled to be discussed in Russia’s parliament Friday. Now even Goldman Sachs said it was “winding down” its business in Russia, following hundreds of other Western firms that have closed or suspended operations. Since the West is confiscating private assets, all is fair in love and war as they say.
