Nissan hands over all holdings in Russia for one rouble

Japanese carmaker Nissan has handed over its holdings in Russia for the symbolic price of one rouble.
"We have managed to find a format in which the company preserves its ability to operate," Russia's Industry Minister Denis Manturov said, according to a press release from his ministry on Tuesday.
"The core competencies, the production cycle and the jobs of all 2,000 employees of the company are preserved," he said.
The company's shares will go to a state institute. Nissan will have a buy-back right valid for six years.
The transfer scheme is similar to the sale of shares in Renault. In May, the French carmaker handed over its holdings in Russia to the state and secured a buy-back right because of the Russian war of aggression in Ukraine.