“Let Them Be Afraid”: Russia Signals Wave of Asset Seizures Targeting EU Corporations

Live updates

1. 2h ago

   Russia Seizes EU Corporate Assets to Pressure European Union

   Russia has placed the Russian units of European companies, including German retailer Metro and Nestlé, under temporary management. A senior Russian government source told Reuters these asymmetric measures intend to pressure the EU over sanctions. The Kremlin accuses the EU of involvement in the war in Ukraine and claims European firms deliberately stifled their Russian units to harm the local economy. While targeting EU firms, Russia appears to be using a different approach toward American companies. Vladimir Putin stated Western firms could recover assets if conditions improve.

   Why it matters

   These seizures follow renewed EU sanctions and a ruling allowing the EU to freeze assets linked to sanctioned Russians via trusts. The move coincides with a decline in Russian business earnings, which fell to 13 trillion rubles between January and July.

   What is confirmed

   • Russia has placed the Russian units of German retailer Metro and Nestlé under temporary management.
   • A senior Russian government source told Reuters that temporary takeovers of Western assets are meant to pressure the EU over sanctions.
   • Total net earnings of Russian companies fell to 13 trillion rubles between January and July, the lowest since 2020.

   Still unconfirmed

   • Russian units of Italian bank UniCredit and Austrian lender Raiffeisen could be the next targets for temporary management.
   • Russia is intentionally treating American firms differently than European firms to weaken the transatlantic alliance.

   What to watch next

   • Official confirmation of further seizures targeting UniCredit or Raiffeisen
   • EU legislative or judicial responses to the seizure of corporate assets
   • Statements from the Kremlin regarding the specific conditions for the return of assets
   Sources used for this update (19)

   1. The Moscow Times — Moscow's Audacious Asset Grab Is a Warning to Western Companies
   2. Bloomberg — Putin Puts German Grocer Metro’s Units Under Temporary Control
   3. Reuters — 'Let them be scared': Moscow sends EU message with widening corporate crackdown
   4. UNITED24 Media — “Let Them Be Afraid”: Russia Signals Wave of Asset Seizures Targeting EU Corporations
   5. Yahoo Finance — Is Nestlé (SWX:NESN) A Bargain After Russia's Temporary Seizure?
   6. The Kyiv Independent — Kremlin seizes control of German retailer Metro AG's Russian properties
   7. U.S. News & World Report — Putin Says Western Companies Could Get Their Russian Assets Back if Things Go Well
   8. united24media.com — Russian Business Earnings Plummet to Lowest Point Since the 2020 Pandemic — UNITED24 Media
   9. www.globalbankingandfinance.com — 'Let them be scared': Moscow sends EU message with widening ...
   10. meduza.io — ‘Let them be scared.’ Senior Russian government ... - Meduza
   11. ground.news — “Let Them Be Afraid”: Russia Signals Wave of Asset Seizures ...
   12. www.thecitizen.co.tz — 'Let them be scared': Moscow sends EU message with widening corporate crackdown | The Citizen
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