Putin orders temporary external management of Nestlé's Russian assets

Published Sep 17, 05:08 PM UTC

Russian President Vladimir Putin has issued an order placing the Russian assets of Swiss food and beverage giant Nestlé under temporary external management. The decree, reported by financial data platform Jin10, marks the latest move by Moscow to assert control over foreign-owned businesses in Russia amid ongoing geopolitical tensions. Nestlé, one of the world's largest food companies, has had a significant presence in Russia for decades. The temporary management order allows Russian authorities to appoint administrators to oversee the company's local operations, effectively transferring operational control from the Swiss parent company. The specific terms of the decree and its immediate impact on Nestlé's Russian workforce, supply chains, and product availability have not been detailed. This action follows a pattern of similar measures taken by the Kremlin against other Western companies since the start of the conflict in Ukraine, as Russia seeks to manage foreign assets and respond to international sanctions.

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