Russia moves to place more European firms’ local assets under temporary management

Reuters reports in The Straits Times that Russia moved to place local assets of French, German, Swedish and Dutch companies under temporary management. It followed a similar move against Nestle, Auchan and Metro the previous month. The Kremlin called the measure “reversible” and said it was a response to EU nations’ role in the war. The October 2026 decree came ahead of Volodymyr Zelenskiy’s planned appearance at an EU summit.