Economy
Russia threatens to seize multiple Western companies: bad news for Nestlé and supermarket Auchan
Russian President Vladimir Putin has placed the assets of 81 Western companies, including Nestlé and Auchan, under temporary management by L.E.V. Management, led by General Andrej Krajoesjkin. This decree transfers control of local operations to a state-linked entity, echoing previous seizures of firms like Danone and Carlsberg that resulted in significant financial losses for their original owners. While Nestlé states it is assessing options to protect its rights, Auchan reports that its Russian subsidiary continues normal operations pending clarification. The move targets businesses from countries deemed "unfriendly" due to support for Ukraine, raising concerns about further expropriations similar to historical Soviet practices.
Ozetta summarises; the reporting is the newsroom's