Moscow Targets European Assets
A decree signed by President Vladimir Putin puts the Russian holdings of companies from France, Germany, Sweden and the Netherlands under provisional administration. Named in Thursday's order were French flooring manufacturer Tarkett, German packaging firm Menshen, Swedish packaging group Sverige International Holdings and Dutch packaging producer Sonoco. This mirrors an earlier step taken last month involving food company Nestle along with retailers Auchan and Metro. The Kremlin framed the decision as retaliation for EU countries' involvement in the war, adding that it can be undone.[S1][S2]
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Timing Tied to EU Summit
Word of the new measures targeting European businesses arrived shortly before Ukrainian President Volodymyr Zelenskiy was due to attend an EU summit on Friday. It also comes as reports suggest Washington may try to take control of certain Russian assets currently frozen on European soil. The sequence of events highlights how quickly friction is building between Moscow and Brussels over the bloc's backing of Ukraine.[S1]
