Moscow (TIP): Companies and investors across the world faced Russian dilemmas on March 4 as they weighed up an offer from Moscow to fast-track their exits from the country and allow them to hand over holdings to local managers until they return. The options offered by First Deputy Prime Minister Andrei Belousov came one week since Russia’s invasion of Ukraine and a day after French bank SocieteGenerale warned that it could be stripped of its Russian operations, which sent a chill through companies seeking to stay put in the country. Belousov outlined three alternatives for foreign firms. “The company continues to work fully in Russia,” he said in a statement. “Foreign shareholders transfer their share to be managed by Russian partners and can return to the market later,” he added, and: “The company permanently terminates operations in Russia, closes production and dismisses employees.” No route comes without risks. Those staying on could face a backlash in Western markets where the public have rallied to Ukraine’s cause, those transferring shares could be handing over the keys with few guarantees, while those quitting may face a big loss at best, or might have to sell for a nominal sum. Russia’s invasion has prompted the United States and Europe to impose sweeping sanctions, affecting everything from global payments systems to a range of hi-tech products, which make doing business in Russia increasingly complex and precarious. For ordinary Russians, it means deep economic pain. Some multinationals such as energy majors BP and Shell have already said they are quitting, while others have held off signing off from Russia for now. TotalEnergies has said it would stay but would not invest more. IKEA announced plans to close stores on Thursday but said it would pay its 15,000 Russian staff for at least three months.Italian tyre maker Pirelli said on Friday it was constantly monitoring developments through a specially constituted “crisis committee”, adding it did not expect to halt either of its two Russian plants. Its rival, Finland’s NokianTyres, said last week it was shifting production of some product lines out of Russia. But there are no easy fixes even for those looking for the exit, when there are limited trading counterparties. (Reuters)