Putin decree puts European firms’ Russian assets under temporary control
The decree covers companies including Menshen, Tarkett and Ontex, and came just before Volodymyr Zelensky was due to address an EU summit.
Key takeaways
- The decree places Russian assets of several European companies under temporary state management.
- The decree covers Eviosys assets in Russia, acquired by Sonoco in December 2024.
Russian President Vladimir Putin has ordered some European companies’ assets in Russia placed under temporary state management. The companies include German packaging maker Menshen, French flooring producer Tarkett, Swedish packaging company Sverige International Holdings and Belgian hygiene-products maker Ontex.
The decree also covers assets in Russia belonging to Eviosys, a former European metal-packaging business acquired by U.S. packaging group Sonoco in December 2024. It came just before Ukrainian President Volodymyr Zelensky was due to address an EU summit in Brussels on Friday.
Moscow has previously described such measures as a response to EU countries’ “direct hostile activities on the battlefield” and said they were reversible. Russia has criticized the EU’s freeze of about €210 billion in Russian state assets. Last month, it placed Russian assets of Nestlé, Auchan and Metro under temporary state management.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
