Moscow (AFP) - Russian President Vladimir Putin said on Thursday that Russian assets of Western companies that Moscow had seized were frozen and could potentially be returned.

First modification: 02/10/2026 - 19:16

Last month, a decree signed by Putin transferred the Russian operations of Swiss giant Nestlé, French retail chain Auchan and former DIY brand Leroy Merlin, now known as Lemana Pro, to a company called LEV Management.

Asked whether the seized assets would be returned in a "favorable scenario," Putin said "yes, they would be."

Russia "does not take, steal or nationalize anything from anyone," he said at the annual political forum in Valdai.

"We do put certain companies under external management. But in some European countries (...) in gross violation of all imaginable norms, they simply confiscated huge companies from us," Putin added.

He cited the seizure of the assets of Russian oil companies Gazprom, Rosneft and Lukoil.

Most Western companies quickly sold off their operations and holdings in Russia after the Kremlin ordered troops to Ukraine in February 2022, or at least isolated them, as sanctions have made it difficult to trade most goods.

Others remained, citing concern for their employees or the well-being of citizens, although they often drastically reduced their activities.

Since then, Russia has made it difficult for companies to exit by requiring presidential authorization for operations or directly confiscating assets.

© 2026 AFP

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