We and our partners do the following data processing based on your consent: store and/or access information on a device, personalised advertising and content, advertising and content measurement, audience research and services development Russia seizes assets of Swiss food giant Nestle and three French firms Russian President Vladimir Putin signed a decree on Thursday to transfer assets of Swiss food giant Nestle and three French groups to a company called LEV Management. Most Western companies quickly sold their Russian operations and holdings after Moscow launched its full-scale invasion of Ukraine, and the Kremlin has since made it difficult for firms to leave the country. Customers shop for food in an Auchan supermarket in Aviapark shopping mall in Moscow on February 11, 2026. © Hector Retamal, Russian authorities have seized the residual businesses and assets of Swiss food giant Nestle and three French groups, the latest move against Western firms in response to sanctions against Moscow over its war against Ukraine.
A decree signed by President Vladimir Putin issued late Thursday transferred the Russian operations of Nestle, French retailer Auchan and the former Leroy Merlin DIY chain, now known as Lemana Pro, to a company called LEV Management. The decree also covers the Russian subsidiaries of French logistics group FM Logistic. Investigative outlet Novaya Gazeta Europe reported that LEV Management was created only at the end of 2025, and is headed by a Russian interior ministry general.
It had no known business activity. Are French companies that maintain operations in Russia 'out of step' with Western sanctions? Russia has since made it difficult for firms to leave, requiring presidential authorisation for deals, or seizing the assets outright.
In a short statement, Nestle said it was "committed to taking all necessary steps to protect its rights and ensure continuity of business operations in the interests of all stakeholders, particularly its employees". "The company is assessing the situation and its options," it added, without providing details of its residual Russian operations. Jean-Philippe Bertschy of the Swiss investment bank Vontobel said he expected the financial impact to Nestle would be small "given Russia's limited contribution to group sales".
He said Russia now accounted for just over one percent of the group's sales, down from around two percent before the Ukraine war. It has suspended "the vast majority of sales, non-essential imports, advertising and capital investment", he said, while continuing to supply essential food items. Auchan and Leroy Merlin are both controlled by France's Mulliez family, and each has around a dozen outlets in Russia.
The latest seizure echoes Moscow's 2023 takeover of Danone's Russian business, which was later sold to a nephew of Chechen leader Ramzan Kadyrov. Russia tricks 'vulnerable' foreigners to fight in Ukraine war, Amnesty reports Russia votes in parliamentary election as war in Ukraine drags on 1. 1 ## EU chief calls for creation of ‘European Security Council’, backs partnership with Canada Europe 2. 2 ## Houthis report Saudi strikes as Riyadh accuses them of targeting Mecca As it happened Middle East 3. 3 ## Europe and Canada are 'strong, even stronger together', Carney tells European Parliament Europe 4. 4 ## ‘Gut-wrenching pain’: First conviction in French school sex abuse scandal fails to quell parents’ anger Analysis France 5. 5 ## Trump threatens EU with tariffs over 'laughable' Canada association plan Europe 6. 6 ## US announces charges against five alleged agents for Russia over assassination plots Americas © 2026 Copyright France 24 - All rights reserved. France 24 is not responsible for the content of external websites.
Extract — continue reading at the source.
