Kremlin Orders Russia Businesses Of Nestle, Auchan Seized

The Kremlin has ordered the Russian businesses of Swiss-based food and beverage company Nestle and French retailer Auchan placed in temporary administration, procedure that previously has led to the forced sale of Western businesses to Russian owners at knockdown prices.The local assets of the two multinationals were put under what the Kremlin says is temporary control by another company under an order issued late Thursday by Russian President Vladimir Putin.A 2023 law allows the Kremlin to place businesses from "unfriendly countries" under temporary administration. In the case of French dairy concern Danone and Danish brewer Carlsberg, the businesses placed under administration later wound up sold to new Russian owners.Kremlin spokesman Dmitry Peskov told reporters on Friday the companies in question are "European companies, companies from unfriendly countries" that are "most actively involved in hostilities against our country," as well as in Ukraine's strikes "on our civilian economic infrastructure."