Russia: Putin places Nestlé and several French companies' assets under "temporary administration"
A decree published Thursday targets notably Nestlé, Auchan and Leroy Merlin, with the companies saying they are seeking to assess their options in response to this Russian measure.
Russian President Vladimir Putin has ordered the placement under "temporary administration" of the Russian assets of Swiss food group Nestlé as well as three French companies, including retailer Auchan and home improvement chain Leroy Merlin, according to a decree published Thursday and reported by France 24.
In response to this announcement, Nestlé said it was "taking note" of the Russian decision and stated it was "assessing its options," without specifying at this stage what measures it is considering taking in response.
For its part, Auchan said it has requested "clarifications" from Russian authorities regarding the exact scope of this measure and its consequences for its operations in the country, according to France 24.
The Russian presidential decree comes in a context of persistent tensions between Moscow and Western countries, with several foreign companies having already had their Russian assets placed under temporary control since the start of the conflict in Ukraine.
The groups concerned have not yet publicly detailed the legal remedies they are considering in response to this decision, whose legal and operational implications remain to be clarified, according to France 24.
Sources
- Après le transfert de leurs actifs à une société russe, Auchan et Nestlé cherchent la parade — France 24 — Français
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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