Russia places European corporate assets under temporary management

On Thursday, September 17, 2026, Russian President Vladimir Putin signed a decree placing the Russian assets of Auchan, Nestlé, and Lemana Pro (formerly Leroy Merlin) under the temporary management of the Russian entity L.E.V. Management. The Kremlin justified this action by classifying these companies as being based in "unfriendly countries" that are currently supporting Ukraine in the ongoing conflict.

France formally requested that Moscow reconsider this decision on Friday. In response, Dmitry Medvedev, Deputy Chairman of the Russian Security Council, dismissed these concerns in a Telegram post today. He argued that Europe understands only the language of force and accused these companies of continuing to generate significant profits in Russia while their home nations provide military aid, including missiles, to the Ukrainian side.

This move marks a significant escalation in the economic confrontation between Moscow and the West. While the decree defines the transfer of management as "temporary," it reflects the broader trend of the Russian government tightening control over businesses linked to nations that have imposed sanctions against it since the start of the war.