Brief by Shorts91 Newsdesk / 05:40pm on 18 Sep 2026,Friday International
Russian authorities seized businesses and assets of Swiss food giant Nestle and three French groups after President Vladimir Putin signed a decree transferring their Russian operations to LEV Management. The decree covers Nestle, French retailer Auchan, Leroy Merlin chain Lemana Pro, and logistics group FM Logistic. Novaya Gazeta Europe reported that LEV Management was created in late 2025 and is headed by a Russian interior ministry general. Russia has made it difficult for Western firms to leave since the Ukraine invasion, requiring presidential approval or seizing assets. Nestle said it was assessing the situation and options. Russia accounts for just over one percent of Nestle’s sales, down from around two percent. (PC: X)
