Concerning the case of the seizure of accounts, we have the classic corporate dispute, which, however, reminds of classic raider attacks of the 90s, the business-ombudsman said, TASS reports.  

The decision of Krasnyi Court of the Smolensk region about the seizure of accounts of Russian Representative Office of IKEA MOS negatively affects the investment attractiveness of the whole country, RF Presidential Commissioner for the Rights of Business People Boris Titov said.

“The attempts to damage business of the Swiss company are continuing for many years”, the press-office of business-ombudsman quotes the Titov’s words. – In terms of seizure of accounts, we have the classic corporate dispute, which, however, reminds of classic raider attacks of the 90s, just of larger scale. We will elaborately consider and take response measures. In any case, such scandals with a large foreign company negatively affect the investment attractiveness of our countries”.

The issue of how foreign investors will treat Russian jurisdiction depends on how efficiently and quickly we will solve this issue with the state, Titov said.  The business-ombudsman also noted that the appeal from IKEA concerning the seizure of its accounts will be under his individual control.

On December 2, the Krasnyi Court of the Smolensk region ordered to seize RUB 9.3 bln on the accounts of the Representative Office of IKEA MOS.

IKEA is confident that public authorities should pay attention to the activities of the Krasnyi court, “because such decisions negatively affect the operational and investment activities of the company in Russia”. It negatively affect the general business climate in the country. The company will assert its rights with all legal means”, as the company emphasized.