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Putin Orders Temporary Administration of Metro's Russian Assets
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Russian President Vladimir Putin has issued a decree placing the Russian assets of German wholesale retailer Metro AG under temporary external management. This move is part of a broader response by the Kremlin to Western sanctions imposed over the conflict in Ukraine. The order allows for the appointment of a temporary administrator to oversee the operations of Metro's Russian subsidiary, effectively putting the company's local business under state control. The decision impacts Metro's ability to manage its own assets and operations in Russia, potentially affecting its financial standing and strategic plans. The Kremlin has previously taken similar actions against other Western companies, including Danone and Carlsberg, as tensions between Russia and the West continue to escalate. The move is seen as a retaliatory measure against Western sanctions and could further strain business relations between Russia and foreign investors.
Source report
Russian President Vladimir Putin has issued a decree placing the Russian assets of German wholesale retailer Metro AG under temporary external management.
The move targets the company's operations in Russia, though further details regarding the scope and duration of the temporary management have not been disclosed in the initial announcement.
Source
金十数据Neutral / independent
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Putin places German retailer Metro AG’s Russian assets under temporary state control