Lates News

Russian President Vladimir Putin has ordered the transfer of shares held by Swiss company Nestle in its local Russian enterprise to temporary management. According to a presidential decree published on Thursday on Russia's official legal information portal, Putin also ordered the transfer of French retailer Auchan's assets in Russia to temporary management. Since 2023, Russia has been using the temporary management mechanism to take over the assets of companies it deems to be from "unfriendly countries." Russian authorities had previously placed the assets of foreign companies such as Danone and Carlsberg under temporary management, and some of these corporate assets were subsequently transferred to Russian buyers.