Le Pen Slams Putin's Seizure of Nestle, Auchan Assets in Russia
The move places 16 Russian businesses under control of a little-known Moscow firm as the Kremlin tightens pressure on Western companies.
- On Thursday, President Vladimir Putin signed a decree placing the Russian operations of Nestlé and Auchan under temporary external administration, transferring control to Moscow-based L.E.V. Management while legal ownership remains unchanged.
- Kremlin spokesman Dmitry Peskov justified the seizure, claiming the companies represent "unfriendly countries" actively involved in hostilities against Russia; this mechanism previously facilitated forced sales of Danone and Carlsberg assets to Russian buyers.
- Analysts estimate a potential $1.2 billion write-off for Nestlé, which operates six factories and employs around 7,000 people, while Auchan operates approximately 230 stores with over 33,000 staff across 100 Russian cities.
- France "condemns" the move and urged Moscow to reverse the decision, stating officials are in close contact with affected companies; both Nestlé and Auchan have requested clarifications from authorities regarding the decree's impact.
- Investigative outlet Novaya Gazeta Europe reported that L.E.V. Management was created only in late 2025 and is headed by a Russian interior ministry general, suggesting the Kremlin prioritizes loyalist figures to oversee seized foreign assets.
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368 Articles
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