Business · Companies · 11 hrs ago
Gerhard Schröder’s Russia work is paid through a German holding company
Former German chancellor Gerhard Schröder serves on the board of Russian retailer Hyperglobus.
The company is the Russian arm of German supermarket group Globus and has 23 stores.
A consulting contract with Germany’s TMB Holding is reportedly the basis for his pay.
TMB Holding, based in St. Wendel in Saarland, controls Globus executives and took over Hyperglobus in 2025.
TMB confirmed that it has a consulting contract with Schröder, but did not give details of his board role; Schröder did not respond to an inquiry.
Direct payments for board roles at Russia-based companies have become difficult because banks fear breaching EU and US sanctions.
An insider said the arrangement had been legally reviewed and did not violate sanctions.
The disclosure follows criticism of Schröder’s recent visit to Moscow and appearance at Russian President Vladimir Putin’s birthday; no further action is stated.
Gerhard Schröder is reportedly paid for work linked to Russian supermarket chain Hyperglobus through a German holding company.
The TMB Holding, based in St. Wendel in Saarland, confirmed it has a consultancy contract with Schröder.
Schröder receives no direct payments from Hyperglobus, which has 23 stores in Russia.
A source familiar with the arrangement said it had been legally reviewed and did not breach EU or US sanctions.
The reports come after Schröder visited a Hyperglobus store in Moscow and attended Russian President Vladimir Putin’s birthday celebration.
- Who
- Former German chancellor Gerhard Schröder and TMB Holding.
- What
- Schröder is reportedly paid under a consultancy contract with TMB Holding for work linked to Hyperglobus, rather than receiving direct payments from the Russian chain.
- When
- The arrangement was reported on October 15, 2026; TMB Holding took over Hyperglobus in 2025.
- Where
- The holding company is based in St. Wendel, Saarland, Germany; Hyperglobus operates in Russia.
- Why
- The reports say direct payments for board roles at companies based in Russia are effectively blocked by tightened EU and US sanctions.
This story does not have two clearly opposing sides.
TMB Holding took over the Hyperglobus chain, which has 23 stores.
Sparkasse Hannover blocked payments from Nord Stream 2 AG to Schröder and returned the money to Gazprombank’s Luxembourg branch.
Reports said Schröder had been appointed to Hyperglobus’s supervisory board.
Schröder visited a Hyperglobus store in Moscow and attended Putin’s birthday celebration.
Reports disclosed that Schröder’s consultancy contract with TMB Holding was the basis for his payment.
- Holding company
- TMB Holding
- Headquarters
- St. Wendel, Saarland, Germany
- Russian chain
- Hyperglobus
- Hyperglobus stores
- 23
- Takeover
- TMB Holding took over Hyperglobus in 2025
2 sources
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small extra income