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Russia Begins Seizing Assets of Western Conglomerates

Russia has unexpectedly seized the local operations of Carlsberg and Danone, two of the world’s largest consumer-goods companies, in a move that escalates economic hostilities with the West.

In a decree signed by President Vladimir Putin on Sunday, Russia placed Danone and Carlsberg’s local operations under temporary management, putting them under the control of the federal state property management agency, Rosimushchestvo.

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[ Editor’s Note: It is actually surprising that this did not happen sooner. In the days after Russian troops invaded Ukraine on February 24, 2022, Western countries began sanctioning dozens of Russian oligarchs and billionaires. As of April 2023, Forbes estimates that Western countries have frozen or seized at least 15 billionaire-owned yachts, 11 jets and helicopters and 124 homes worth a total of $9 billion. And this is just the oligarchs.. players in Putin’s orbit. Then there is the blocking of different state oil and gas ventures, the destruction of key infrastructure, restriction of Russian aircraft from EU airspace, extensive sanctions on the banking system, and on and on. ]

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