Russian President Vladimir Putin signed a decree seizing control of local assets belonging to Swiss food company Nestle SA and French supermarket chain Auchan. The stakes were placed under temporary administration through a company called **AO L. E.
V. Menedzhment, registered in Moscow** in 2024. The decree was published on Russia's official legal portal.
The move reflects ongoing regulatory actions against foreign-owned businesses operating in Russia amid the current geopolitical climate.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing