Russia places more European-owned assets under temporary management

Russia has placed another group of European-owned corporate assets under temporary management through a decree signed by President Vladimir Putin. The order covers operations linked to French flooring maker Tarkett and packaging businesses associated with Germany’s Menshen, Sweden’s Sverige International Holdings and the Netherlands-based Sonoco group.

The decree transferred five Russian entities to a company named Centre Capital. Interfax estimated their combined 2025 revenue at more than 50 billion roubles, with Tarkett’s local operation accounting for 19.3 billion roubles. The precise ownership histories differ, including businesses previously sold or reorganised after foreign groups reduced their presence in Russia.

The Kremlin described the measure as reversible and said it responded to European countries’ role in supporting Ukraine. It follows temporary-management orders involving Nestlé, Auchan and Metro. The legal label does not erase ownership on paper, but it removes operational control from the foreign-linked companies while the order remains in force.

The move deepens uncertainty for businesses that still hold Russian assets and adds another layer to the dispute over property and frozen reserves between Moscow and European governments. The decree establishes control; any eventual sale, compensation or restoration of management would require further documented steps.