On September 28, Russian President Vladimir Putin signed a decree placing the Russian assets of German retailer Metro under temporary administration. This move follows a similar decree on September 17 that targeted French companies Auchan, Leroy Merlin, and FM Logistic, as well as Swiss company Nestle. The decree takes effect immediately upon publication on the official portal.
The temporary administration will cover 100% of the shares of Metro Warehouse Noguinsk, owned by Metro Cash & Carry Russia, and Retail Property 5, owned by Metro Retail Real Estate. According to reports, the administration will also cover the company that operates Metro's stores in Russia. In 2025, Metro's Russian subsidiary generated approximately 2.5 billion euros in revenue.
The Russian subsidiary of Metro has maintained its operations in the country since the start of the conflict in Ukraine. The company has stated that its obligations to suppliers, customers, and employees will continue to be honored. Metro has justified the move by citing the need to ensure the security of its employees and infrastructure, presenting itself as a "critical infrastructure" entity.
The temporary administration of Metro's Russian assets will be managed by UK Torg Rus, led by Johannes Maria Tolay. Tolay has been heading Metro's Russian subsidiary since April 2023, and no changes have been made to the company's leadership. This is in contrast to the French companies, which have been placed under the management of L.E.V. Management, a Moscow-registered company with limited resources.
The decrees signed by President Putin in September complement a list annexed to a decree from April 25, 2023. The Kremlin has cited the "unfriendly" status of the countries where these companies are based as the reason for the temporary administration. Former Russian President Dmitri Medvedev has stated that further action is needed on this issue.
The Russian subsidiary of Metro has reported that its stores and online sales are operating normally. The company has maintained a presence in Russia despite the conflict in Ukraine, and its operations continue to be a significant part of its business. The temporary administration is seen as a measure to ensure the stability of the company's operations in the country.
The move by Russia to place Metro's assets under temporary administration is part of a broader trend of the country taking control of assets from foreign companies. The Russian government has been taking steps to assert its control over key sectors of the economy, particularly in the wake of the conflict in Ukraine. The impact of this move on Metro's operations and the wider business environment in Russia remains to be seen.
Key points
- Russia places German retailer Metro's assets under temporary administration, following similar moves with French and Swiss companies.
