Business: Russian Metro subsidiary donates millions for war against Ukraine
The Russian subsidiary of Metro has been under Putin's compulsory administration for a month. Now it's making an unusual donation. The German headquarters is reacting clearly.
Moscow - The Russian subsidiary of German trade conglomerate Metro has allocated a billion rubles (around 10.9 million euros) towards Russia's war efforts, following the country's President Vladimir Putin's temporary state management of the Russian Metro entity, according to a Friday statement. The funds are to be utilized for acquiring equipment, including communication devices and anti-drone technology, in a statement by Metro Russland's CEO Johannes Maria Tolay.
The company explained that as part of the Russian economic system, it believes it is crucial to engage in the state's strategic initiatives. The donation was subsequently directed to the "People's Front. All for Victory!" fund, operated by the "All-Russian National Front," a political movement established under Putin's initiative.
Germany's Metro AG, headquartered in Düsseldorf, issued a statement distancing itself from the million-euro donation, specifically rejecting "any support for Russia's war against Ukraine," emphasizing that financing or involvement in war actions contradicts their stance and business practices.
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