Russia places property of four European firms under temporary administration
A decree by Vladimir Putin names Tarkett, Menshen, Sverija International Holdings and Sonoco amid deteriorating ties with the EU.
Russia has placed the assets of four European companies in the country under temporary administration, in a decree signed by President Vladimir Putin that was published on Thursday.
The measure names the French floor-coverings maker Tarkett, the German packaging producer Menshen, the Swedish company Sverija International Holdings and the Dutch firm Sonoco.
The step follows a similar move last month that targeted the food group Nestlé and the retail chains Auchan and Metro. At the time the Kremlin said the measures were reversible and presented them as a response to the role of European Union countries in the Ukrainian conflict.
Diplomatic context and wider implications
The new decree arrives amid a further deterioration in relations between Moscow and the EU, driven by continued European support for Ukraine. Russian authorities say such measures are a form of economic counterpressure.
Officials in several capitals have been reporting discussions about the future of frozen Russian funds in Europe, including indications that the United States might consider taking control of a portion of those assets. The Russian move is likely to add legal and commercial uncertainty for foreign companies operating in Russia.
Photo: press material from the event
