France denounces Russian takeover of French company assets

French Economy Minister Roland Lescure has denounced recent actions by Moscow to take control of assets belonging to French companies still operating in Russia. Describing the moves as ‘an act of hostility against France,’ Lescure called for the reversals of these takeovers.

Russian authorities recently placed the Russian subsidiaries of Auchan and the former Leroy Merlin (now Lemana Pro) under ‘temporary administration.’ The move follows similar actions taken against the Swiss company Nestlé. Moscow justified these measures by citing the companies' affiliation with countries deemed ‘unfriendly’ for their support of Ukraine.

Lescure characterized the situation as ‘economic blackmail’ and emphasized that these developments will not deter France from maintaining pressure on Russia regarding its war in Ukraine.