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Russia expands seizure of European firms amid Ukraine support dispute

Russia has placed more European companies under temporary state control, citing Europe’s aid to Ukraine, while largely sparing U.S. firms.

Moscow has intensified its crackdown on European businesses, adding the Russian branches of Nestlé, Auchan and Metro to the list of firms placed under temporary state administration. Earlier, 20 foreign-capital firms were seized after Donald Trump assumed the U.S. presidency in January 2025, with only three linked to the United States and the rest controlled by European owners. Russian regulators say the latest seizures reflect Europe’s “direct hostilities” on the battlefield in Ukraine and alleged illegal expropriations of Russian property.

Smaller firms from France, Germany, Sweden and Belgium have also been taken over. While negotiations with the United States continue, Moscow has avoided similarly harsh measures against American companies. The Kremlin refused further comment, and the White House did not respond to inquiries.

Why it matters

The seizures signal heightened economic retaliation by Russia against European support for Ukraine, affecting multinational trade relations.

How this story developed

  1. Oct 14 US urges Europe to release part of frozen Russian assets to aid Ukraine peace talks
  2. Oct 17 European delegates rebuffed the US call to release frozen assets.
  3. Oct 20 US special envoy Steve Witkoff will meet President Vladimir Putin to seek the freedom of Stephen Hubbard, a 74-year-old American held in Russia.
  4. Oct 21 Russia announced that Stephen Hubbard has been freed and is at St. Petersburg airport.
  5. Oct 21 During a meeting in Russia, Steve Witkoff praised Vladimir Putin as a humanitarian, prompting condemnation from across the U.S. political spectrum.
  6. Oct 21 U.S. envoy Steve Witkoff met President Putin in St. Petersburg, after which Russia granted Hubbard a humanitarian pardon.
  7. Oct 21 The meeting sparked immediate criticism from U.S. political figures.

In this story

RussiaEuropean firmstemporary administrationUkraine supporttrade negotiationsKremlinU.S. companiesexpropriationeconomic retaliation
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