Kremlin seizes control of German retailer Metro AG's Russian properties
Russian authorities have taken control of German retailer Metro AG's Russian properties, marking a significant escalation in asset seizures against Western companies. This follows a pattern of Russian retaliation against foreign businesses amid ongoing sanctions, and signals heightened risk for remaining Western corporate presence in Russia.
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Russia Seizes Metro AG Assets; Czech Investors Křetínský and Tkáč Affected
Russia has placed the local assets of German retailer Metro AG, majority-owned by Czech investors Daniel Křetínský and Patrik Tkáč, under temporary state administration via presidential decree. This action, confirmed by multiple sources, represents a significant escalation in Russia's pattern of seizing foreign-owned assets, particularly targeting Western companies that remained in Russia post-invasion. The move signals heightened expropriation risk for remaining foreign businesses and may prompt retaliatory measures from the EU.