The Kremlin justifies the transfer of assets from European companies
Keystone-SDA
Russia’s seizure of assets belonging to Swiss multinational Nestlé and other European companies is because they are based in “unfriendly countries” that support Ukraine, according to the Kremlin.
The measure also applies to the Russian subsidiaries of French companies Auchan and the former Leroy Merlin entity.
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A Russian presidential decree issued on Thursday stated that shares in the companies would now be managed by the Russian firm LEV Management.
The parent companies retain ownership of their subsidiaries but are now blocked from making decisions regarding these holdings.
“Of course, one of the factors taken into account in this decision is the fact that these are unfriendly countries,” said Dmitry Peskov, spokesperson for the Russian presidency, on Friday.
“Unfriendly countries which are currently involved as actively as possible in military actions against our country, and which have taken part in the strikes carried out by the Kyev regime against our civilian and economic infrastructure,” he added.
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Russia seizes control of Nestlé subsidiaries
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Translated from French, reviewed by an English Department journalist.
