According to a decree by President Vladimir Poutine published Monday, cited by BFM Business, all of the Russian assets of German retail group Metro would have been transferred under "temporary administration" to the Russian company UK Torg Rus. The Kremlin reportedly justified the measure by the company's belonging to a country deemed "unfriendly" to Russia and supportive of Ukraine, according to the same source.
Less than two weeks ago, the assets of Auchan's Russian subsidiary and the former entity of home-improvement group Leroy Merlin had already been placed under temporary administration, as had those of Nestlé, BFM Business notes.
A strategic market for Metro
The Russian market would account for nearly 9% of the group's revenue, and nearly 8.7% of total sales over the first nine months of 2026, with 2.14 billion euros. Russia would be Metro's most dynamic segment, with sales growth of more than 10%, representing a third of the group's total increase, a result helped by favourable exchange rates. The Russian subsidiary's cash and cash equivalents reportedly stood at 152 million euros as of June 30, 2026.
Accusation of "economic blackmail"
In France, minister Roland Lescure accused Russia of "chantage économique" (economic blackmail). Moscou, for its part, denounces as illegal under international law the freezing of several hundred billion euros of Russian assets in Europe since the start of the conflict, and equates the sanctions targeting its companies with unfair competition.
