Kremlin puts Nestle and Auchan Russian assets under temporary control
Moscow says the move follows the companies' owners being tied to unfriendly nations linked to attacks in Kyiv, with no further decisions made yet
Published
The Kremlin has placed Russian assets belonging to Nestle and Auchan under temporary administration. It said the step was taken because the companies' owners are based in nations it considers unfriendly, and linked those nations to attacks on Kyiv. Officials said no further decisions on the assets have been made.
The order adds two more Western consumer names to a list of foreign businesses Russia has placed under state control since the invasion of Ukraine began. It comes as tensions between Moscow and Washington sharpen. The U.S. House of Representatives passed a Russia sanctions and tariffs bill by a vote of 262 to 159 and sent it to President Trump's desk. The Kremlin called the legislation an unfriendly act and said it would hamper efforts to reach a peace settlement in Ukraine.
The seizure widens Russia's economic isolation and shows a continued willingness to use control over foreign business operations as a lever in the conflict. For investors, it sharpens concerns about the security of Western assets still held in Russia, and feeds into broader worries about the war's lasting damage to global supply chains and the inflation pressures that shape current commodity and monetary policy expectations.