Putin confiscates Nestle, Auchan assets in Russia
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Russian President Vladimir Putin on Sept. 17 signed a decree confiscating the assets of several international companies, including Nestle and Auchan.
Other companies include Bati Logistics, FM Logistics, and Le Monlid LLC, which, alongside Nestle and Auchan, had their assets put under the temporary management of Russian joint-stock company L.E.V. Management, according to Russian media.
The well-known Nestle and Auchan did not leave the Russian market after Russia began its full-scale invasion of Ukraine in February 2022 and instead altered operations.
Nestle suspended several key brands, including KitKat, stopped advertising, and halted capital investment in Russia, according to the Kyiv School of Economics (KSE) Institute.
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France's Auchan, which is known for its supermarkets across Europe, put its Russian subsidiary under local management in 2023, considering itself an essential civilian service and refusing to leave.
Russia has damaged the property of international businesses operating in Ukraine as well, with missile and drone attacks.
On Aug. 29, a Russian attack damaged a PepsiCo production facility in southern Ukraine's Mykolaiv Oblast, the company said.
