In a recent statement, the Kremlin confirmed that the nationality of the owners of major companies played a key role in the decision to place their Russian assets under temporary administration. This concerns giants such as Nestlé and Auchan, which have European roots and therefore fall into the category of ‘unfriendly’ countries in Moscow’s view. This was reported by Dmitry Peskov, the Kremlin’s official spokesperson.
According to Peskov, one of the factors influencing this decision was the involvement of the countries where the companies’ headquarters are registered in military operations which, according to Russia, were directed against it. He also mentioned other operational aspects that were taken into account, but did not go into detail.
On 17 September, Russian President Vladimir Putin signed a decree on the temporary transfer of control over the Russian subsidiaries of companies such as Auchan and Nestlé to the firm ‘L. E. V. Management’. The managing director of this company, which was only registered in 2024, is Andrei Krayushkin. Surprisingly, according to media reports, ‘L. E. V. Management’ has just one employee, and the company ended last year making a loss.
Russian assets, such as Auchan LLC and Nestlé Kuban LLC, are now under the control of ‘L. E. V. Management’. Auchan and Nestlé have expressed their intention to investigate the situation and take measures to protect their interests. Meanwhile, Auchan had previously announced its intention to withdraw from the Russian market, and Gazprombank was named as a potential buyer of its assets. Ultimately, Auchan’s Russian operations were acquired by ‘Torgovye Galereyi’, led by the young 23-year-old entrepreneur Tagir Shaimardanov.
Whilst the companies continue to operate as normal, their management is closely monitoring developments and seeking opportunities to maintain and protect their positions in Russia. In a situation where geopolitical and economic interests are intertwined, the outcome of this story remains unpredictable.