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Putin Orders Temporary Control of Nestlé and Auchan Assets

By Drooid · Sep 18, 2026, 12:00 PM UTC · How we work

Summary

Story summary

President Vladimir Putin decreed temporary administration of Nestlé’s and Auchan’s Russian assets.
The assets were transferred to AO L.E.V. Menedzhment, a Moscow firm with 15,000-ruble capital.
Nestlé noted the decree and said it will protect its rights.
Auchan requested clarification, citing 230 Russian stores and about 30,000 employees.
Analysts warn Nestlé may write off 1 billion Swiss francs and note its shares fell about 2%.

History

Historical Context

In December 2004 the Kremlin sold Yukos’s asset Yuganskneftegaz for $9.35 billion to a front firm later taken over by Rosneft, after arresting CEO Mikhail Khodorkovsky in 2003 and using tax claims to break the oil group. In 2024 Putin’s decree moved Nestlé’s and Auchan’s Russian holdings to AO L.E.V. Menedzhment, prompting warnings of a possible 1 billion-Swiss-franc write-off and echoing earlier expropriations that have unnerved foreign investors.

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Story summary

President Vladimir Putin decreed temporary administration of Nestlé’s and Auchan’s Russian assets.
The assets were transferred to AO L.E.V. Menedzhment, a Moscow firm with 15,000-ruble capital.
Nestlé noted the decree and said it will protect its rights.
Auchan requested clarification, citing 230 Russian stores and about 30,000 employees.
Analysts warn Nestlé may write off 1 billion Swiss francs and note its shares fell about 2%.

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