Stories
Moscow Escalates Corporate Crackdown, Targets EU Firms with Asset Seizures
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CNBC TV18•29-09-2026, 20:09
Moscow Escalates Corporate Crackdown, Targets EU Firms with Asset Seizures
- •Russia has intensified its corporate crackdown, targeting European firms by stripping foreign owners of management rights over Russian assets, citing the EU's alleged involvement in the Ukraine war.
- •Swiss food giant Nestle, German wholesaler Metro AG, and French retailer Auchan recently had their Russian assets placed under temporary management.
- •A senior Russian government source warned of "asymmetric measures," stating, "Let them be scared" regarding potential future targets like UniCredit and Raiffeisen.
- •The Kremlin justified the moves by citing the "increasing level of involvement of these unfriendly countries in direct battlefield hostilities" against Russia, though it suggested the actions are "reversible" if dialogue occurs.
- •Russia criticizes the EU for freezing •210 billion of its sovereign assets and targeting Russian companies, while the EU accuses Russia of attacks on European territory and shows no intent for peace talks.
Key Questions Answered
Russia placed the assets of Swiss food giant Nestle, German wholesaler Metro AG, and French retailer Auchan under temporary management.
The Kremlin stated that the decisions were driven by the increasing level of involvement of these unfriendly countries in direct battlefield hostilities against Russia.
Since the start of the war, Russia has introduced temporary administration at 135 firms affiliated with foreign companies, the vast majority from EU countries.
