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Russia has moved to place assets belonging to companies from France, Germany, Sweden and Belgium under temporary management, as tensions between Moscow and the European Union deepen over the bloc’s support for Ukraine.
President Vladimir Putin issued a decree on Thursday, October 15, listing the affected assets, Reuters reported.
The companies named include French flooring manufacturer Tarkett, German packaging company Menshen, Swedish packaging firm Sverige International Holdings and Belgian healthcare products manufacturer Ontex.
The decree also covers Russian assets of Eviosys, a European metal packaging business acquired by US packaging group Sonoco in December 2024. The assets are listed as belonging to Sonoco’s Dutch unit.
The Kremlin has previously said that measures placing foreign companies under Russian control were a response to what it described as EU member states’ direct involvement in hostilities against Russia. Moscow has maintained that the arrangements are reversible.
The latest move comes ahead of an EU summit on Friday, where Ukrainian President Volodymyr Zelensky is expected to attend. Reports have also emerged that the United States may seek control of some Russian assets frozen in Europe.
Russia has strongly criticised the EU for freezing around $238 billion in Russian state assets following the invasion of Ukraine. Moscow has also accused European and other Western countries of targeting Russian companies’ assets.
Last month, Russia took similar measures involving food giant Nestlé and retailers Auchan and Metro.
The asset-control measures highlight the continuing economic fallout from the war in Ukraine and the worsening confrontation between Russia and Western governments.
