Russia takes over management of Metro chain's assets
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According to the document, Metro's assets in Russia were transferred under the temporary management of the Russian company UK Torg Rus. The decision extends a series of moves by Moscow against companies from Western countries that remained on the Russian market even after the start of the invasion of Ukraine. Le Figaro ↗
Metro is among the German companies that continued doing business in Russia despite the deterioration of relations between Moscow and Western states. Russian authorities have recently been taking control of foreign companies' assets or entrusting them to domestic administrators without immediately announcing the further fate of these businesses. Die Zeit ↗
Temporary management in Russia also applies to other Western companies. Examples cited include the Swiss food group Nestlé and the French retail group Auchan. Their inclusion in this broader framework suggests continued pressure on foreign companies operating in the country. Deutschlandfunk ↗
The decree so far provides no detailed explanation of the reasons for the takeover, nor a timeline for further steps. It therefore remains open whether the temporary management will later be terminated or will lead to a permanent removal of control over Metro's Russian operations. aktuality.sk ↗
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