Putin seizes five more European firms, continuing Russia's hostile asset crackdown

Russian President Vladimir Putin has signed a decree targeting five additional European firms, extending Russia's hostile asset crackdown. The companies, whose combined annual revenue tops 50 billion roubles (€532 million), include French flooring maker Tarkett and entities like Kappa Rus, Ontex RU, Eviosys Packaging Kuban, and Menshen Packaging CIS.

Their assets have been placed under interim control of Centre Capital, a management company registered in February 2026. Centre Capital's CEO, Marat Mirkhaydarov, previously headed Zabaykalsky regional governor's administration until stepping down in 2025 due to an injury from Russia's ongoing war in Ukraine. The decree follows a series of similar actions in September, where Putin seized assets of Nestlé, Metro, Auchan, and Leroy Merlin under temporary administration.

Western governments and legal experts deem the latest move unlawful expropriation, which companies can seek compensation for through international arbitration under bilateral investment treaties. Kremlin spokesman Dmitry Peskov characterized the targeted companies as belonging to "unfriendly countries," a term used by Moscow to label all EU member states, the US, the UK, and other Western nations that imposed sanctions after Russia's full-scale invasion in February 2022.