Magna, Couche-Tard among Canadian companies with Russian operations staying put as more multinationals exit
At one time, Russia was seen as a breakthrough market for Magna. Russian oligarch Oleg Deripaska bought US$1.54-billion in shares of the company in 2007 and planned to run it with founder Frank Stronach. Mr. Stronach told shareholders at the time that before the investment, he sought and received a meeting with Russian President Vladimir Putin to get his endorsement of the deal. Mr. Deripaska later sold his shares during the financial crisis in 2008.
Moscow is blocking foreign investors, who hold tens of billions of dollars worth of Russian stocks and bonds, from exiting. The Globe and Mail is not naming the official because he was not authorized to identify himself publicly, given his sensitive position in the intelligence community. The prosecutor of the International Criminal Court confirmed he would immediately open an investigation into possible war crimes committed in Ukraine, following a request to do so by 39 of the court’s member states.
Removing Russian banks from SWIFT, a measure seen as drastic and unlikely only a week ago, is one of the most powerful tools Western authorities have used to punish Russia for what Moscow describes as a “special operation” in Ukraine.Analysis: War in Ukraine tests delicate balance of Turkey’s relationships with Europe and Russia, NATO and Putin
In a statement, the multilateral development bank said it had not approved any new loans to or investments in Russia since 2014, the year Russia annexed the Crimea region of Ukraine. Timing is crucial. On Monday, Ukraine’s Ministry of Foreign Affairs confirmed that just 80 kilometres north of the city, the Ivankiv Museum, which held precious archeological and folk items, had been destroyed. Lost in the blaze were about 25 works, widely considered priceless national treasures, by folk artist Maria Pryimachenko.
In a video message, Kharkiv Mayor Ihor Terekhov expressed disbelief at the destruction of a Russian-speaking city, where a quarter of the 1.4 million residents have relatives in Russia. “We never expected this could happen: total destruction, annihilation, genocide against the Ukrainian people – this is unforgivable,” Mr. Terekhov said.Powerful explosion reported in central Kyiv near rail station
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