00:01Russia has placed the local businesses of Nestle, Auchan and other Western-linked companies under the temporary control of a
00:08little-known Russian company called Lev Management.
00:12President Vladimir Putin signed the decree on Thursday that places the management of the stakes and shares in 16 Russian
00:18companies under the control of the firm.
00:21While Nestle is weighing out its options, Auchan has said their Russian operations will continue as normal.
00:28The move tightens Moscow's control over Western-owned assets amid its confrontation with Western countries over sanctions imposed following Russia's
00:37invasion of Ukraine.
00:38The measure does not formally confiscate the businesses or change their ownership.
00:44However, temporary administration has previously preceded the sale or transfer of Western-owned assets to Russian buyers.
00:52After Moscow launched its full-scale invasion of Ukraine in 2022, most Western companies moved quickly to sell or ring
01:00-fence their Russian businesses.
01:02Russia has since made it increasingly difficult for foreign companies to leave, requiring presidential approval for deals and placing some
01:10assets under temporary administration.
01:13Russia has since made it a decision.
01:13Russia has since made it a decision.
01:16Russia has since made it a decision.
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