Russian lawmakers on Tuesday gave the initial approval to a bill that would allow Russian entities to take over foreign companies that have left the market in opposition to Moscow's actions in Ukraine, the government's online portal showed.

Scores of foreign companies have announced temporary shutdowns of stores and factories in Russia or said they were leaving for good since the Russia-Ukraine conflict started in late February.

The bill, passed in the first reading by the lower house of parliament, or Duma, would allow the state development bank VEB or other entities approved by a commission to act as external administration at companies where foreign ownership, specifically from countries that Moscow deems "unfriendly," exceeds 25 percent.

(With input from Reuters)