Russia takes control of more European corporate assets ahead of Zelenskyy's appearance at EU summit
The decree expands a series of seizures of foreign-owned businesses as Moscow cites Western sanctions and frozen Russian assets as justification.
- On Thursday, Russian President Vladimir Putin signed a decree placing assets of French, German, Swedish, and Dutch companies under temporary management, affecting firms with combined annual revenue exceeding 50 billion roubles .
- The Kremlin framed the seizure as a reversible response to Europe's decision to freeze approximately £300 billion in Russian sovereign assets, designating the firms as companies from "Unfriendly" countries that imposed sanctions following the 2022 invasion.
- Tarkett, Menshen, Sverige International Holdings, and Sonoco faced seizure following similar moves last month against Nestle, Auchan, and Metro; all five companies continued operating in Russia after the 2022 invasion of Ukraine.
- Assets were transferred to Centre Capital, a management company registered in February 2026, with chief executive Marat Mirkhaydarov, a former regional official, having stood down in 2025 following an injury sustained in Russia's war.
- Western governments and international legal experts have described the move as unlawful expropriation; companies can pursue compensation through international arbitration, though enforcing judgments against The Kremlin remains nearly impossible.
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57 Articles
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Putin Hands Control of 5 Western Firms to Ukraine War Veteran
President Vladimir Putin signed a decree Thursday placing the Russian assets of five major Western manufacturing companies under the temporary management of a little-known firm owned by an ex-official who fought in Ukraine.
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Russia has placed the Russian subsidiary of the Belgian diaper manufacturer Ontex under temporary government administration. The company has...
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