Russia orders takeover of French and Swiss corporate assets

Russian President Vladimir Putin has ordered the temporary takeover of Russian branches belonging to major French and Swiss companies. This move is framed as a response to Western support for Ukrainian attacks on Russia’s civil and economic infrastructure.

Among the affected entities are the Swiss food producer Nestle and prominent French retail companies Auchan and Leroy Merlin. Kremlin spokesperson Dmitry Peskov stated that these measures target European companies from ‘unfriendly nations’ that are actively involved in military actions against Russia.

The decision follows reports that France has been a primary supporter of Ukraine, with allegations that French intelligence has guided Ukrainian strikes on Russian oil refineries and commercial centers. Additionally, Switzerland has supported European Union sanctions and is considering easing restrictions on the export of Swiss-made weapons to Ukraine.