France condemns Russian seizure of French company assets

French Economic Minister Roland Lescure has condemned Russia's recent seizure of assets belonging to French companies operating within its territory, describing the move as an ‘hostile act’ and ‘economic blackmail.’

A decree signed by President Vladimir Putin has transferred the Russian operations of several major European entities to a Russian firm named ‘LLV Management.’ The affected companies include the French retail group Auchan, the home improvement retailer Leroy Merlin (operating as Lemana Pro in Russia), and the Swiss food giant Nestlé. The decree also reportedly impacts the Russian entities of the French logistics firm FM Logistics.

Investigations into the new management firm, LLV Management, suggest it was established in late 2025 and is headed by a general from the Russian Ministry of Internal Affairs, despite having no prior commercial history.

While Lescure noted that France may seek recourse through international courts, he acknowledged that such measures might not be immediately effective. He emphasized that these actions will not deter France from maintaining its firm stance and continued support for Ukraine.