Russia places European company assets under temporary control again
A decree places assets of companies from four EU countries under temporary Russian control.
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Russia has again placed local assets belonging to European companies under temporary control. According to Reuters, the businesses are from France, Germany, Sweden and Belgium.
The decree was published on Thursday, shortly before a European summit at which support for Ukraine and relations with Russia were also central issues. The measure affects French flooring producer Tarkett, German packaging producer Menshen, Sweden-based Sverige International Holdings and Belgian hygiene company Ontex, among others.
According to Reuters, temporary control means that the Russian state or an appointed administrator takes over control of local operations. Formal ownership may remain unchanged, but foreign shareholders in practice lose influence over management and business operations.
Moscow accuses the European Union of freezing Russian assets and targeting Russian companies with sanctions. The European measures were introduced after Russia’s invasion of Ukraine. According to Reuters, Russia describes the takeovers as a response to what it regards as hostile policy.
For European companies, the move increases the risks of doing business in Russia. In addition to sanctions and payment problems, companies must contend with political intervention, loss of control over production sites and uncertainty over whether they can take profits or capital out of the country.
The takeover does not automatically mean that all European companies in Russia will be affected. However, the move fits a pattern in which Moscow brings foreign assets under state control. It is unclear whether this specific decree also affects Dutch companies. It is also unclear how long the temporary control will last or what compensation the companies concerned will receive.
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One story, several perspectives
What is established
- Russia has placed the assets of several European companies under temporary control.
- The EU has frozen Russian state assets and imposed sanctions after the invasion of Ukraine.
- According to Reuters, the European companies concerned are losing control over their local operations.
Left
Arguments European companies should give greater weight to the political and human-rights risks of doing business in Russia than to short-term profits.
Values The international rule of law, human rights and solidarity with Ukraine.
Consequences A rapid withdrawal may lead to losses, but would reduce the financing and legitimacy of the Russian state model.
Centre
Arguments The EU should maintain sanctions, but also give companies clarity about exemptions, risks and possible exit arrangements.
Values Legal certainty, European unity and economic predictability.
Consequences Targeted restrictions can apply pressure without causing unnecessary harm to European workers and supply chains.
Right
Arguments The takeovers show that political sanctions leave European companies vulnerable and that businesses need to protect their interests more effectively.
Values Property, national economic resilience and caution about dependence on foreign countries.
Consequences The EU should move critical production and investment more quickly, even if that is temporarily more expensive.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The article’s central claims are confirmed by two Reuters reports. The text makes clear which legal and financial consequences remain uncertain.
- confirmed Russia placed local assets of European companies under temporary control. — Reported by Reuters. source
- confirmed The companies include Tarkett, Menshen, Sverige International Holdings and Ontex. — The companies are named in the Reuters report. source
- confirmed The move increases the risks for European companies operating in Russia. — This is a business inference from the reported transfer of control and the sanctions context. source
Editor's note
The decree and the companies named were reported by Reuters. Little is yet publicly known about the precise legal consequences, the duration of the control or any compensation.Sources
- Russia takes control of more European corporate assets ahead of Zelenskiy's appearance at EU summit — Reuters via Boursorama
- Russia takes control of more European corporate assets — Reuters via Marketscreener
More on this in Dutch media
- Het Parool — „rusland bedrijven”
- de Volkskrant — „rusland bedrijven”
- NU.nl — „rusland bedrijven”