Key facts
- Assets of Tarkett, Menshen, Sverige International Holdings, and Sonoco were placed under temporary management.
- The Kremlin stated the measure was a response to EU nations' role in the war and is reversible.
- The move precedes Ukrainian President Volodymyr Zelenskiy's appearance at an EU summit.
- Reports suggest the US may seek control of some Russian assets frozen in Europe.
Russia has moved to place the local assets of French, German, Swedish, and Dutch companies under temporary management, according to a decree signed by President Vladimir Putin on October 16, 2026. The decree listed assets belonging to French flooring maker Tarkett, German packaging maker Menshen, Swedish packaging maker Sverige International Holdings, and Dutch packaging maker Sonoco. This action follows a similar move last month against food giant Nestle and retailers Auchan and Metro. The Kremlin stated the measure was a response to EU nations' role in the war and stressed that it was reversible. The latest move against European companies comes ahead of Ukrainian President Volodymyr Zelenskiy's appearance at an EU summit, amid reports that the United States could seek control of some Russian assets frozen in Europe.