Russia imposes temporary control on Nestlé, Metro and Auchan
Moscow has introduced temporary administration for several European firms’ Russian units and threatens further measures against foreign-owned affiliates.
Russia has launched a fresh campaign to strip foreign companies of the right to manage their Russian assets, officials and corporate sources say, accusing the European Union of involvement in the war in Ukraine. This month Moscow imposed temporary administration over the Russian operations of Swiss food giant Nestlé, German wholesaler Metro and French retailer Auchan.
“The time has come for asymmetric measures. Let them think about the measures they are taking and the sanctions they impose,” said a senior government source.
Russian corporate sources accused European firms of deliberately stalling the development of their Russian affiliates, harming the Russian economy in the process. When asked which companies might be next and whether the Russian units of Italy’s UniCredit and Austria’s Raiffeisen could be placed under temporary administration, the source said: “Let them be afraid.”
Kremlin stance and wider fallout
The Kremlin said the moves were prompted by “the growing involvement of these hostile countries in direct combat operations against Russia.” “At the moment we see no basis for changing the decision. We do not hear any reasonable voices calling for dialogue or for efforts to correct the situation,” said the Kremlin spokesman, Dmitry Peskov.
The European Union, for its part, blames Russia for failing to bring the war to an end and says Moscow has shown no real intent to engage in serious peace talks; Brussels last week extended sanctions against more than 3,000 individuals and entities.
Russia’s foreign minister, Sergey Lavrov, framed the confrontation in stark terms: “If you acknowledge that your weapons are being used against us, then I have no doubt that this is a war that Europe is waging against us.”
Since the beginning of the war, Russian authorities have installed temporary administration in 135 firms linked to foreign companies, including French food group Danone and Danish brewer Carlsberg, according to official Russian figures.
Photo: MNA)
