Moscow’s asset seizures unnerve Japanese companies in Russia

AI Summary

More than 200 Japanese companies operating in Russia face increasing uncertainty due to Moscow's asset seizures of several Western firms including Nestlé, Auchan, and Lemana Pro. The Kremlin transferred these assets to a Russian management entity under a decree signed by President Vladimir Putin amid worsened diplomatic relations.

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...