Business · Companies · 13 hrs ago
Russia places more European company assets under temporary management
Russia placed more European company assets under temporary management under a decree by President Vladimir Putin.
The affected firms include French flooring maker Tarkett, German packaging maker Menshen, Swedish company Sverige International Holdings and Belgian hygiene products maker Ontex.
The decree also covers Russian assets of Eviosys, which was acquired by US packaging group Sonoco in 2024.
The Kremlin says such takeovers are reversible and are a response to what it calls EU involvement in direct battlefield hostilities.
Russia objects to the EU freezing about €210 billion of Russian state assets and targeting Russian companies’ assets in Western countries.
The move comes before Ukrainian President Volodymyr Zelenskiy appears at an EU summit on Friday, as tensions between Russia and the bloc remain high.
Russia has placed local assets of companies from France, Germany, Sweden and Belgium under temporary management, according to a decree by President Vladimir Putin.
The decree also covers Russian assets of former European metal-packaging business Eviosys, now owned by US packaging group Sonoco.
The move comes ahead of Ukrainian President Volodymyr Zelenskiy’s appearance at an EU summit on Friday.
The Kremlin has said such measures respond to EU nations’ involvement in what it calls direct battlefield hostilities and are reversible.
Russia criticises the EU for freezing about €210 billion of its sovereign assets and targeting Russian company assets in Europe and other Western countries.
- Who
- The Russian government, under a decree by President Vladimir Putin, and the European companies whose assets are listed.
- What
- Russia placed local assets of several European companies under temporary management.
- When
- The decree was issued on Thursday, October 16, 2026.
- Where
- Russia.
- Why
- The Kremlin said such measures respond to EU nations’ involvement in direct battlefield hostilities. Russia also criticises the EU’s freezing of Russian sovereign assets and targeting of Russian company assets.
Russian government
European Union
Justification
Russian government
The Kremlin said the measures respond to EU nations’ involvement in direct battlefield hostilities and are reversible.
European Union
The EU froze about €210 billion of Russian sovereign assets in response to the war and has targeted Russian company assets in Europe and other Western countries.
Russia placed assets of food giant Nestle and retailers Auchan and Metro under similar measures.
A decree listed assets of French, German, Swedish and Belgian companies, as well as Russian assets of former European business Eviosys.
Ukrainian President Volodymyr Zelenskiy was due to appear at an EU summit.
- Companies listed
- Tarkett, Menshen, Sverige International Holdings and Ontex
- Eviosys assets
- Listed as owned by Sonoco’s Dutch unit
- Frozen Russian sovereign assets
- About €210 billion
- Previous measures
- Nestle, Auchan and Metro were targeted last month
3 sources
What people are saying
direct battlefield hostilities
reversible