© Pavel Bednyakov/POOL/TASS  

Bloomberg: Putin Orders New Rules for Defense Firms in Case of Martial Law 

Russian President Vladimir Putin signed a decree Friday laying out new rules for tightening control of companies that fail to fulfill defense contracts in the event martial law is imposed, the latest step in the Kremlin’s preparations for militarizing the economy as its invasion of Ukraine stretches into a second year. 

Under the decree, the state would get the power to take over firms that fail to meet their obligations under military contracts during the period of martial law, suspending the rights of owners and shareholders. 

A government working group is to be set up on the operations of arms companies under martial law, according to the order, the text of which was published Friday.  

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Update: Putin amends law to ensure state defence orders are properly met (Reuters)  

WNU Editor: It is a war economy right now in Russia. This decree only reinforces it.