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Russia Seizes Assets Of Swiss Food Giant Nestle
A decree signed by President Vladimir Putin issued late Thursday transferred the Russian operations of Nestle, French retailer Auchan and the former Leroy Merlin DIY chain, now known as Lemana Pro, to a company called LEV Management. The decree also covers the Russian subsidiaries of French logistics group FM Logistic, France24 reported.
Investigative outlet Novaya Gazeta Europe reported that LEV Management was created only at the end of 2025, and is headed by a Russian interior ministry general. It had no known business activity.
Most Western companies quickly sold their Russian operations and holdings after the Ukraine invasion, or at least isolated them, as sanctions have made trading in most goods difficult.
Russia has since made it difficult for firms to leave, requiring presidential authorization for deals, or seizing the assets outright.