Russia Seizes Assets of Swiss Food Giant Nestlé and Three French Firms
· World · France 24, The Independent, NDTV
Russian President Vladimir Putin signed a decree transferring the local assets of Swiss food giant Nestlé and three French groups to a company named LEV Management. The move follows a broader trend of Western corporations exiting or facing state seizure of their operations in Russia following the invasion of Ukraine. Most major international firms had previously rushed to wind down their business presence in the country amid mounting international sanctions. The decree places the targeted foreign corporate holdings under Russian management control.
Why it matters
The asset seizure escalates economic tensions between Russia and Western nations, increasing financial risks for multinational companies operating abroad.
Read the original report — France 24
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.