Moscow’s asset seizures unnerve Japanese companies in Russia

More than 200 Japanese companies still operating in Russia face growing uncertainty following Moscow’s seizure of three Western firms’ assets, amid deteriorating diplomatic relations.

The Kremlin announced on Friday that the assets of Swiss food giant Nestlé, French retailer Auchan and home improvement chain Lemana Pro had been transferred to Russian entity LEV Management under a decree signed a day earlier by President Vladimir Putin.

“These are unfriendly nations,” Kremlin spokesman Dmitry Peskov said while announcing the decision to introduce “external management”.

He added that the countries involved were either “actively involved in military actions against our country” or had “engaged in strikes by the Kyiv regime on our civilian and economic infrastructure”.