Moscow seizes Russian assets of German food retailer Metro
Retail giant Metro, was one of few Germany-based companies that had maintained large scale operations in Russia even after the war in Ukraine and related sanctions forced other companies out. Now Moscow has seized its assets.
The European Union has been unable to make progress on utilizing over $227 billion worth of frozen Russian assets to support Ukraine. Sweden recently reignited the debate, but EU governments have not taken initiative, with Sweden's caretaker government and lack of clear member state instructions posing obstacles. Notable figures, such as former British Prime Minister Rishi Sunak and Ukraine's Finance Minister Serhii Marchenko, have proposed alternative solutions to circumvent the legal risks associated with using the assets.
However, concerns over long-term damage to Euroclear, a Belgian clearing house, and potential loss of business opportunities for investors suggest that these proposed workarounds may not be as beneficial as initially thought.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Unfreezing Europe's Russian assets debate kyivindependent.com
- Putin places German retailer Metro’s Russian assets under temporary control of a company registered three weeks earlier meduza.io
- Moscow seizes Russian assets of German food retailer Metro thelocal.de
- Kremlin Seizes Russian Subsidiary of German Retailer Metro themoscowtimes.com
