Putin says Russia not nationalizing foreign assets, owners may get them back

October 1, 2026 at 10:34 PM2 min

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President Vladimir Putin said Russia is not nationalizing foreign assets placed under temporary management, calling such claims lies and provocation. He said Western owners would get their assets back under a favorable scenario. The remarks came at the Valdai Discussion Club plenary session.

Key Facts

Putin said Russia 'does not take anything from anyone, does not steal and does not nationalize' foreign assets under temporary management.
Since April 2023, Russian assets of 28 foreign companies and groups have been placed under temporary management, with 11 in 2026 alone.
On September 28, Metro Cash & Carry assets were transferred to JSC UK Torg Rus, and on September 17, 100% of Auchan Russia, Lemana PRO, and Nestle Russia shares were placed under management of L.E.V. Management.
Temporary management has been lifted in seven cases: four companies went to Russian investors, two were converted to state revenue, and one returned to its previous owner.
Putin cited Western actions against Gazprom, Rosneft, and Lukoil as the reason for Russia's mirror response mechanism.

Putin's Statement

Speaking at the Valdai Discussion Club plenary session, Putin rejected accusations that Russia is nationalizing foreign assets. He called such claims 'lies and provocation' and insisted Russia 'does not take anything from anyone, does not steal and does not nationalize.' When asked whether foreigners could get their assets back under a favorable scenario, Putin answered: 'Yes, they will.' He explained that external management creates conditions for a mirror response if Russian companies are nationalized or seized in the West.

Temporary Management Mechanism

In April 2023, Putin signed a decree allowing the transfer to temporary management of property linked to countries that confiscate Russian assets. Movable and immovable property, securities, shares in charter capital, and property rights can be placed under temporary management. The temporary manager exercises the owner's powers except for disposal of the property. Since April 2023, 28 foreign companies and groups have had their Russian assets placed under temporary management, with 11 in 2026. The regime has been lifted in seven cases: four companies transferred to Russian investors, two converted to state revenue, and one returned to its previous owner.

Recent Transfers

On September 28, Metro Cash & Carry assets were transferred to JSC UK Torg Rus. On September 17, 100% of shares in Auchan Russia, Lemana PRO, and Nestle Russia were placed under management of L.E.V. Management. Metro's press service said the temporary management of Metro Cash & Carry and Metro Warehouse Noginsk was needed to ensure employee and infrastructure safety and business continuity. Nestle said it maintains contact with Russian authorities and is studying possible actions after the transfer of its business to temporary management.