Economy
Russia Seizes Western Companies Again, Recalling the Costly Theft of Danone
Russian President Vladimir Putin has placed 81 Western companies under temporary management via L.E.V. Management, led by General Andrei Kraiushkin. This decree transfers control of assets from firms including Nestlé, Auchan, and FM Logistic to a state-linked entity, echoing the 2024 seizure of Danone and Carlsberg. While formal ownership remains with the original owners, effective control is lost. Danone previously wrote off one billion euros after its Russian operations were transferred to associates of Chechen leader Ramzan Kadyrov. The move affects companies that remained in Russia following the invasion of Ukraine, raising concerns about economic consequences similar to those seen after the 1917 Revolution.
Ozetta summarises; the reporting is the newsroom's