According to the presidential decree by Vladimir Putin, published on the site of official Russian legal documents, the shares of Nestlé and of the French hypermarket chain Auchan and of the former Leroy Merlin group, in Russia, are transferred under “temporary administration” to the Russian company “L.E.V. Management.” Moscow accuses and cites “unfriendly countries.”
The Russian investigative media Novaya Gazeta Europa asserts that this company, founded at the end of 2025, is led by Andrei Kraiouchkine, a general in the Russian Ministry of Internal Affairs.
“According to its accounting documents, (this company) has carried out no activity, at least until the end of that same year (2025, ed.). It has only one employee. Its owners are unknown,” the media, which is banned in Russia as an “undesirable organization” and based in Latvia, said.
Nestlé “takes the necessary measures”
Nestlé announced on Friday that it would take “all necessary measures” to protect its rights in Russia and ensure the continuity of its activities.
In a brief statement, the food giant said it “takes note of the Russian presidential decree” concerning its assets in the country and is in the process “of evaluating the situation and the options” available to it.
2% of sales
Nestlé had indicated after Russia’s invasion of Ukraine in February 2022 that it generated about 2% of its revenue in Russia, producing in particular coffee, confectionery, baby foods and pet foods there. The Vevey-based multinational had reduced its investments and exports from Russia, notably due to international sanctions, and had focused its offering on basic foodstuffs.
Stock decline
On the Swiss stock market, investors were hit, with the stock of the world’s leading food company falling around 1:20 p.m. by 2.1% to CHF 76.65, weighing on the blue-chip SMI index, which was also in the red at 0.18%.
The Russian subsidiary of the French hypermarket chain Auchan said on Friday that it had asked the Russian authorities for “clarifications.”
“Unfriendly countries,” according to Moscow
The transfer of these assets is explained in particular by the fact that these European companies come from “unfriendly countries” that financially support Ukraine, the Kremlin said on Friday.
“Unfriendly countries that are currently involved as actively as possible in military actions against our country, and that participated in strikes carried out by the Kyiv regime against our civilian and economic infrastructure,” said Dmitri Peskov, the spokesperson for the Russian presidency.
