Reuters
Putin seizes control of Russia's biggest car dealership
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FOX 5 Atlanta
(Reuters) -President Vladimir Putin placed Russia's biggest car dealership under temporary state management on Friday, in a step the Kremlin said was driven by commercial logic but which its founder said made the country look uninvestable. Rolf, which is owned by a Cyprus-based firm and was founded by Russian businessman Sergei Petrov, was one of the first car dealerships to emerge after the collapse of the Soviet Union. Its seizure, set out in a decree published on a government website, comes after Moscow has taken temporary control this year of several Western-owned assets in response to Russian assets being frozen or disrupted by sanctions in the West.
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