Russia formulates a new law to seize western firms
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As global tensions continue to escalate between Russia and the West, Moscow is formulating a new law that will allow itself to overtake western companies that intend to leave Russia as a result of its invasion into Ukraine. 
Reuters reported that the new law can be implemented within weeks and it will give Moscow the right to seize businesses that pose a threat to the jobs and economy of Russia. Furthermore, the law places Western firms in a scramble as they look to remove themselves as quickly and efficiently as possible so they do not take a financial blow in a takeover. 
As Russia remains cut off from most of the world it is trying to prop up its weakened economy and two stocks find themselves in the crosshairs of this new potential law that can seize foreign business property. Both McDonaldâs (NYSE:MCD) and Starbucks (NASDAQ:SBUX) are two stocks that can be impacted by Russiaâs law.
Year-to-date price action: MCD -9.2%, SBUX -37.8%.
Michael Loewy of the Federation of Austrian Industries told Reuters "Russia was already isolated and no longer of interest to investors," and continued with "This law can only make that worse."
In broader market news, stock index futures overcame some overnight weakness and point to a higher open Thursday.