Russia seizes assets of Swiss food giant Nestle and three French firms
Summary
Russian President Vladimir Putin signed a decree to transfer the Russian operations of Swiss company Nestle and three French firms to a new Russian company called LEV Management. This move is part of Russia’s response to Western sanctions and follows a pattern of Russia seizing or controlling the Russian businesses of Western companies since the Ukraine war began.Key Facts
- President Putin approved a decree to transfer assets of Nestle and three French companies (Auchan, Lemana Pro, and FM Logistic) in Russia to LEV Management.
- LEV Management was created at the end of 2025 and is led by a Russian interior ministry general.
- Many Western companies sold or isolated their Russian operations after Russia’s full-scale invasion of Ukraine in 2022.
- Russia now restricts companies from leaving by requiring presidential approval or by seizing their assets.
- Nestle said it is working to protect its rights and maintain business operations in Russia.
- Nestle’s sales in Russia now account for about 1% of its total sales, down from 2% before the Ukraine war.
- Auchan and Leroy Merlin, both owned by the French Mulliez family, have about a dozen outlets each in Russia.
- This seizure follows Russia’s 2023 takeover of Danone’s Russian business, later sold to a relative of Chechen leader Ramzan Kadyrov.
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