Business · Companies · 4 hrs ago

Metro’s Russian subsidiary donates 1 billion rubles to military support fund

Metro’s Russian subsidiary donates 1 billion rubles to military support fund

Metro’s Russian operation donated 1 billion rubles to a fund supporting Russian troops.

The money went to the People’s Front: Everything for Victory!

fund, which says it will help buy equipment for troops fighting in Ukraine.

In late September, Russian President Vladimir Putin placed Metro’s Russian assets under temporary management.

Metro AG, the German parent company, says it did not approve the donation and has had no operational control over the Russian business since the takeover.

The Russian operation’s chief executive said taking part in state initiatives was important, while the fund listed vehicles, communications and anti-drone equipment among its needs.

The donation highlights how companies under Russian state management can channel money to military support efforts; no further action by Metro AG was announced.

3 sources

Related

What people are saying

Metro AGGerman parent company
The decision by Metro Russia to donate to the Russian organization “All-Russia People's Front” was neither coordinated with Metro AG nor authorized or approved by Metro AG
via Kyiv Independent
Since Metro Russia was placed under forced temporary administration as of September 28, Metro AG no longer has operational control over Metro Russia and has no influence over its operational decisions.
via Kyiv Independent
Johannes TholeyMetro’s chief executive in Russia
As part of Russia’s economic system, we believe it is important to take part in the state’s strategic initiatives
via Meduza