Companies around the globe grappled with a dilemma over what to do with their Russian investments on Friday as Moscow laid out their options: stay in the country, exit entirely or hand over their holdings to local managers until they return.

First Deputy Prime Minister Andrei Belousov spelt out the government’s position a little more than a week after Russia invaded Ukraine, and a day after French bank Societe Generale SOGN.PA sent a chill through the corporate world by saying Russian authorities could seize its assets in the country.

Belousov outlined three alternatives for foreign firms. Read more: Trudeau will travel to Europe to discuss Russia’s invasion of Ukraine alongside allies “The company continues to work fully in Russia,” he said in a statement. “Foreign shareholders transfer their share to be managed by Russian partners and can return to the market later,” he added, and: “The company permanently terminates operations in Russia, closes production and dismisses employees.” No route comes without risks.

Those staying could face a backlash in Western markets where the public have rallied to Ukraine’s cause, those transferring shares could be handing over the keys with few guarantees, while those quitting may face a big loss at best, or might have to sell up for a nominal sum. “It’s a complicated process,” said Darren Woods, chief executive of U.S.

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Will Smith resigns from film academy after Chris Rock slap

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Ghislaine Maxwell's request for retrial denied by judge

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TIFF returns with in-person experience in September

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Ramadan 2022: What is the Islamic holy month? How is it celebrated?

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Montreal-based study estimates Quebec saw up to 32,000 new daily COVID-19 cases last week

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Russia outlines options for foreign firms: stay, leave or hand over the keys

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