Lugansk Peoples’ Republic intends to nationalise large companies

In an interview with Ria Novosti, the head of the self-proclaimed republic of Lugansk, Valery Bolotov said that there will be no untouchable businessmen: “all that should belong to the people – will belong to the people and the country.”

The Russian news agency quoted Bolotov as saying: “There will be nationalisation … Those enterprises that were privatized illegally will be nationalized.” He said that nationalisation will not affect small and medium businesses. He announced his intention to nationalize primarily large industrial companies, which are key to the region’s economy.

The leader of the republic did not specify what will be the criteria used to determine the legality of laws of privatization of enterprises, but promised that the oligarchs will not untouchable.

The Lugansk Peoples’ Republic had already decreed the nationalisation of the local regional consumer co-operative.

Previously the neighboring People’s Republic of Donetsk had already announced its intention to nationalise the property of the oligarchs. The Republic explained its decision on the basis of the refusal of the oligarchs to pay taxes and to continue to pay taxes to Kiev. The announcement was a direct reaction to the attempt by oligarch Rinat Akhmetov to mobilise workers against the Republic (an attempt which failed miserably).

Later on, however, Donetsk Republic primer minister Alexander Boroday seemed to take a step back from this decision and hinted that Akhmetov’s property would not be touched.

(With additional information from RabKor)

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