Moscou Prend Le Contrôle Des Actifs en Russie Du Groupe De Distribution Allemand Metro
The decree transfers Metro Russia to a state management firm as Moscow expands seizures of Western assets amid tensions with Germany.
- On Monday, President Vladimir Putin signed an executive order placing the Russian subsidiary of Metro AG under state "temporary management," transferring control to Torg Rus, a management firm registered earlier this month.
- Earlier this month, the Kremlin seized Russian subsidiaries of Auchan, Nestlé, and Lemana PRO, utilizing a 2023 order that grants the state authority to place foreign assets under "temporary management."
- Moscow describes these asset seizures as a response to "hostile actions" by "unfriendly" governments, while Russian Foreign Minister Sergei Lavrov recently met his German counterpart at the UN General Assembly in New York.
- Metro Russia stated operations continue as usual despite the order, though corporate records show Johannes Tholey, the CEO of Metro Russia, also serves as CEO of Torg Rus.
- Germany recently accused Russia of staging a drone attack at Leipzig/Halle Airport; Berlin retaliated by closing a Russian consulate and the Russian cultural center, escalating tensions weeks before the Metro seizure.
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Vladimir Putin signed a decree to hand over to the provisional asset control of the German Metro trading network, which remained in Russia after the outbreak of the full-scale war.
Westfalenpost
Düsseldorf Group no longer has access to its wholesale markets in Russia. Other Western companies are also under compulsory administration.
The assets of the German Metro trading network in Russia have been transferred to the interim agency of the UC Trürg Rus, which Vladimir Putin signed today, 28 September.
Liberation
Le FigaroThe Russian authorities placed the group's assets in Russia under "temporary administration", less than two weeks after doing the same with several companies from European countries supporting Ukraine, including Auchan.
Russia has placed the Russian assets of German metro company Metro AG under temporary state supervision by a presidential decree, a document published on Monday showed. The decision comes amid rising tensions between Moscow and Berlin over the war in Ukraine.
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