(WASHINGTON) – The White House is warning Russia against taking any action to seize the assets of U.S. and international companies that have announced plans to suspend operations in Russia or pull out of the Russian market in response to Vladimir’s decision. Putin to invade Ukraine.

Jen Psaki, the press officer, was responding to reports in Russian and other media about a proposal to nationalize the ownership of major foreign companies leaving Russia.

Psaki said on Twitter on Thursday that such a step would be a throwback to 1917 and that Russia will have to live for decades with investor mistrust. She says Russia could also face legal action from companies whose assets are seized.

PSAKI says the White House stands with US companies making what she called “tough decisions” about the future of their Russian operations.

Russian newspaper Izvestia reported on Thursday that the government and the attorney general’s office are considering a proposal to nationalize foreign companies that have announced they are withdrawing from Russia due to the war in Ukraine. The newspaper said it had a list of nearly 60 companies, including IKEA, McDonald’s, Apple, Microsoft, IBM and Porsche, among others.

The article said that some were calling for caution. A quoted expert warned against hasty action, saying that some of the companies were acting under pressure from their governments and it would be wrong to conclude that they have permanently closed their doors in the Russian market.