Putin takes control of Nestlé and French firms
Russian authorities have seized the assets of Swiss-based Nestlé and three French groups, including Ocean and the La Loria Mirlain chain, transferring them to the temporary management company "L.E.V. Management." This measure is part of Moscow's response to Western sanctions imposed on Russia due to the war in Ukraine. The Russian government justifies the action by stating that the assets belong to "hostile" countries, and the seizure is a sovereign act aimed at protecting the national economy. Nestlé owns six factories in Russia and employs around seven thousand people, with sales amounting to approximately $2.5 billion in 2021. Moscow affirms that this measure is temporary and seeks to maintain operational continuity, protect jobs, and ensure the supply of essential goods.
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