Kremlin says foreign asset control orders aim to establish outside oversight, not seize ownership
Moscow ties the measure to what it calls increased military action by unfriendly countries against Russia
Published
The Kremlin said orders placing foreign companies' Russian operations under temporary administration are meant to establish outside control rather than change who owns them. It linked the move partly to what it described as increased military action by unfriendly countries against Russia.
The statement follows a campaign that began on September 18, when Russia placed the local operations of Nestle and Auchan under temporary administration. It also comes after a run of exchanges between Moscow and Kyiv over the Black Sea. Zelenskiy said Russia struck two foreign-flagged ships near Odesa, a day after Russia said it had struck two vessels bound for the port, a claim Kyiv has not confirmed. On Monday the Kremlin said Ukraine must face consequences for its recent actions, language Putin has used before.
By stating explicitly that ownership is not changing, the Kremlin appears to be trying to limit the reputational and legal fallout among foreign investors and governments still weighing their exposure to Russian operations. It did not withdraw the seizures already made or set out a timeline for reversing them, so the risk to Western assets in Russia remains what it was. Tying the policy to military action by unfriendly countries also leaves room for further seizures if the conflict widens. The statement clarifies the campaign rather than expanding it, and does not amount to a genuine concession to foreign investors.