Russia has moved to place the local assets of French, German, Swedish and Dutch companies under temporary management. The order came in a decree signed by President Vladimir Putin on Thursday.
The decree listed assets belonging to French flooring maker Tarkett, German packaging firm Menshen, Swedish packaging company Sverige International Holdings and Dutch packaging maker Sonoco.
It follows a similar move last month against food giant Nestle and retailers Auchan and Metro. The Kremlin said the measure was a response to EU nations’ role in the Ukraine war and stressed it was reversible.
Ties Hit New Low
The latest action came ahead of an appearance by Ukraine’s president at an EU summit on Friday. EU ties with Moscow have sunk to a new low over the bloc’s support for Kyiv.
According to reports, the United States could also seek control of some Russian assets frozen in Europe. The Kremlin has warned against such steps.
Business Impact
European companies still operating in Russia face growing pressure. Many have already scaled back or sold their Russian businesses since the war began.
Analysts said the temporary management orders give Moscow leverage in its wider dispute with the West. The affected companies have not yet commented publicly, according to reports.
The decree is part of a wider pattern of economic pressure between Russia and the West. Western sanctions on Moscow remain in place, and both sides have used business assets as bargaining tools.
Business groups in Europe have urged their governments to protect companies still active in Russia. They warned that further asset seizures could hurt trade and investment for years to come.
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