Putin warns on nationalizing Russian stakes

Russian President Vladimir Putin has warned that any move by foreign countries to nationalize Russian stakes in companies would be “a double-edged sword.”

“We are already hearing statements from officials about a possible nationalization of some of our assets,” he said. “How far will that get us? Let no one forget that it is a double-edged sword.”

Putin also bemoaned what he said was “administrative pressure on our company Gazprom in some European countries.” Germany on Monday put a government agency in charge of a longtime German subsidiary of Gazprom, the Russian state-controlled energy giant.

The move falls short of nationalization because the German state has not taken ownership of the shares, and it is a temporary change of administration through September.

Gazprom said last week it had cut ties with the unit but Germany says that was invalid because the identity of any new owners is unclear and the deal happened without the required government approval.