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The Independent UK

National

Via AP news wire

SHOCKING: Kremlin orders businesses seized - You Need To See This

Kremlin Auchan Nestle Dmitry Peskov Russia

Russia Business - (Copyright 2024 The Associated Press. All rights reserved)

The Kremlin has ordered the Russian businesses of Swiss-based food and beverage company Nestle and French retailer Auchan placed in temporary administration, procedure that previously has led to the forced sale of Western businesses to Russian owners at knockdown prices.

The local assets of the two multinationals were put under what the Kremlin says is temporary control by another company under an order issued late Thursday by Russian President Vladimir Putin.

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