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The Russian government took risks to save jobs

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The government of the Russian Federation has softened control over the markets to keep jobs in foreign companies
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Sanctions against Russia in general and the Urals in particular

Monopolies will reappear on the Russian market. The Russian government is taking this risk to keep jobs in companies owned by foreign owners. With this, experts explained to URA.RU the decision of the anti-sanctions headquarters headed by Prime Minister Mikhail Mishustin, which simplifies the purchase of assets of foreign companies and allows retail chains to increase their market share.

At the beginning of the meeting of the government headquarters on May 18, Mishustin announced that 14 more positions were included in the list of priority measures to support the economy under sanctions. Most of them, according to the prime minister, “are aimed at supporting business, preserving jobs, reducing the administrative burden, including when acquiring assets and developing niches in commodity markets that arise due to the departure of unscrupulous partners.”

Speech by Russian Prime Minister Mikhail Mishustin at the superfinal of the Leaders of Russia management competition.  Moscow

Russian Prime Minister Mikhail Mishustin announced new measures to support the Russian economy

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Simplified coordination with the Federal Antimonopoly Service (FAS) of transactions worth up to two billion rubles. We are talking about the acquisition of shares, shares, property and rights to commercial organizations, Mishustin said. “The buyer does not need to send a preliminary request to the FAS and wait for permission to purchase. This takes time, which now many may not have enough. It will be enough to send a notification of the completed transaction to the antimonopoly service,” said the Prime Minister of the Russian Federation.

The government intends to allow retail chains to buy shares in companies that were previously controlled by foreign owners, Mishustin added. In order for large networks to do this, the authorities temporarily refuse to limit their market share – now it is 25% (this rule was introduced to ensure competition – access for small companies). “We expect that these proposals will simplify and speed up the conclusion of property transactions, support businesses in their desire to expand their projects through assets appearing on the market. And, of course, they will make it possible to keep the teams of such companies in case foreign owners decide to close their business in our country,” Mishustin concluded.

Mannequins in closed Zara and Stradivarius stores.  Tyumen

Some companies will leave the market, while others will have to be saved, experts say

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In fact, this is permission for monopolization, but it can save companies and their employees, says Nikolai Kulbaka, candidate of economic sciences. “The crisis that Western sanctions gave rise to is strong enough, and we must prepare for the fact that some companies will leave the market, some will have to be saved. All government actions are somehow aimed at preserving retail outlets, trading volume and jobs. In such a situation, it will be difficult for small and medium-sized businesses. Perhaps additional support measures will be needed to balance the situation, ”the expert said.

Under the current conditions, the government is not up to the intricacies of assessing the dominance of companies, says Petr Kiryan, head of the Social Research Laboratory of the Institute of Regional Problems. According to him, it is more important that the new property, which enterprises will buy under a simplified procedure, start working faster, and people keep their jobs.

“The FAS tries not to issue instructions in situations close to the dominance of companies on the market, because the government’s principled position is to soften control. The authorities have other possibilities for control if any excesses arise,” Kiryan explained.

Under sanctions pressure, the issue of market monopolization becomes secondary for the authorities, believes Nikita Maslennikov, head of the Finance and Economics department at the Institute of Contemporary Development. “In the context of sanctions, you have to choose what support measures to take. It is not so much the risks of monopolization that are important to us now, but the solution of issues of preserving companies and saturating the market. Who can, he increases his production capabilities. And the competition will be restored,” the interlocutor concluded.

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Monopolies will reappear on the Russian market. The Russian government is taking this risk to keep jobs in companies owned by foreign owners. With this, experts explained to URA.RU the decision of the anti-sanctions headquarters headed by Prime Minister Mikhail Mishustin, which simplifies the purchase of assets of foreign companies and allows retail chains to increase their market share. At the beginning of the meeting of the government headquarters on May 18, Mishustin announced that 14 more positions were included in the list of priority measures to support the economy under sanctions. Most of them, according to the prime minister, “are aimed at supporting business, preserving jobs, reducing the administrative burden, including when acquiring assets and developing niches in commodity markets that arise due to the departure of unscrupulous partners.” Simplified coordination with the Federal Antimonopoly Service (FAS) of transactions worth up to two billion rubles. We are talking about the acquisition of shares, shares, property and rights to commercial organizations, Mishustin said. “The buyer does not need to send a preliminary request to the FAS and wait for permission to purchase. This takes time, which now many may not have enough. It will be enough to send a notification of the completed transaction to the antimonopoly service,” said the Prime Minister of the Russian Federation. The government intends to allow retail chains to buy shares in companies that were previously controlled by foreign owners, Mishustin added. In order for large networks to do this, the authorities temporarily refuse to limit their market share – now it is 25% (this rule was introduced to ensure competition – access for small companies). “We expect that these proposals will simplify and speed up the conclusion of property transactions, support businesses in their desire to expand their projects through assets appearing on the market. And, of course, they will make it possible to keep the teams of such companies in case foreign owners decide to close their business in our country,” Mishustin concluded. In fact, this is permission for monopolization, but it can save companies and their employees, says Nikolai Kulbaka, candidate of economic sciences. “The crisis that Western sanctions gave rise to is strong enough, and we must prepare for the fact that some companies will leave the market, some will have to be saved. All government actions are somehow aimed at preserving retail outlets, trading volume and jobs. In such a situation, it will be difficult for small and medium-sized businesses. Perhaps additional support measures will be needed to balance the situation, ”the expert said. Under the current conditions, the government is not up to the intricacies of assessing the dominance of companies, says Petr Kiryan, head of the Social Research Laboratory of the Institute of Regional Problems. According to him, it is more important that the new property, which enterprises will buy under a simplified procedure, start working faster, and people keep their jobs. “The FAS tries not to issue instructions in situations close to the dominance of companies on the market, because the government’s principled position is to soften control. The authorities have other possibilities for control if any excesses arise,” Kiryan explained. Under sanctions pressure, the issue of market monopolization becomes secondary for the authorities, believes Nikita Maslennikov, head of the Finance and Economics department at the Institute of Contemporary Development. “In the context of sanctions, you have to choose what support measures to take. It is not so much the risks of monopolization that are important to us now, but the solution of issues of preserving companies and saturating the market. Who can, he increases his production capabilities. And the competition will be restored,” the interlocutor concluded.

Mahadi Hassan is the OopsTop best article writer of Heaven Is for Real and Same Kind of Different As Me. The author or co-author of two Websites, Mahadi has sold 12 million copies since 2006. He worked for eleven years as a writer and editor at the national news biweekly WORLD magazine.

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