Putin decree puts assets of Tarkett, Menshen and other European firms under Russian control
Russia placed the local assets of companies from France, Germany, Sweden and the Netherlands under temporary state management by decree on Thursday, 15 October, the day a two-day EU summit opened in Brussels.
Decree puts European assets under Russian state management
On Thursday, 15 October, Vladimir Putin signed a decree placing the local assets of several European companies under temporary state management. Tarkett, a French flooring maker, is on the list, as is Menshen, a German packaging producer. The decree also covers Sverige International Holdings, a Swedish packaging company. Deutsche Welle adds Ontex, a Belgian hygiene products maker, and the Russian assets of Eviosys, a former European metal packaging company that the US packaging group Sonoco bought in December 2024. Reports differ on Sonoco's home country, with some listing it as Danish and others as Dutch.
Timing against the Brussels summit
The decree was signed on the day a two-day EU summit opened in Brussels, according to rmf24. Ukrainian President Volodymyr Zelensky was due to address the summit on Friday, 16 October, and the talks there cover Ukraine's military and energy needs. The move came just before his appearance, and reports say Washington could try to gain control of frozen Russian assets in Europe. Deutsche Welle notes that Moscow criticizes the EU for freezing about 210 billion euros of Russian state assets after Russia attacked Ukraine. Zelensky arrived in Brussels on Thursday, seeking firmer pressure on Russia from NATO and EU leaders, according to AFP.
- Russia places Nestle, Auchan and Metro assets under temporary management
- Putin signs decree on European companies' assets; two-day EU summit opens in Brussels
- Zelensky addresses the EU summit
Earlier seizures and the Danone precedent
In September, Russia placed the Russian assets of Swiss food group Nestle, French supermarket chain Auchan and German food retailer Metro under temporary management. The Kremlin said at the time that the step answered EU support for Ukraine, and officials said the decision could be reversed. For this decree, the Kremlin again said the measure responds to the role of EU countries in the war and called it reversible. Russia had earlier said similar steps answer direct hostile activity by EU countries on the battlefield.
The Danone case offers a precedent. In July 2023 Danone's Russian assets were placed under temporary state management, with oversight given to a family member of Ramzan Kadyrov, the leader of Chechnya. Putin lifted that decree in March 2024, and two months later Danone completed the sale of its Russian assets to a local investor.
Tensions with Washington
Zelensky has said he felt betrayed by a deal between Putin and Donald Trump on Russian diesel deliveries to the United States, according to Le Monde as cited by HotNews. He has also said he will no longer comply with Trump's request to stop attacking Russian refineries. Euronews, cited by HotNews, describes tensions between Zelensky and Trump as rising. Zelensky intends to rally European allies at the summit, where aid for Ukraine is on the agenda.
