Kremlin seizes Nestlé’s assets in Russia as crackdown on private business grows

The Kremlin has moved to seize the Russian assets of Nestlé and French retailer Auchan amid a broader nationalization drive that has seen a surge in government takeovers of private companies.

Auchan and Nestlé are “European companies from unfriendly countries… currently actively involved in hostilities against us,” Kremlin spokesperson Dmitry Peskov told reporters Friday, a day after a presidential decree announced the measures. Both companies’ assets have been placed under the temporary control of the domestic firm L.E.V Management, according to the decree.