Nestle Faces Potential Russian Asset Control Amid Political Tensions

A Russian company, KS Logistika, has requested President Vladimir Putin to place Nestle's Russian assets under temporary administration. This move arises from Nestle's halted expansion in Russia. Although not contacted yet, Nestle continues operations there. The request could potentially lead to a change in Nestle's ownership in Russia.

KS Logistika, a Russian firm, has approached President Vladimir Putin, requesting a temporary administration over Nestle's Russian assets, according to Russian newspaper Kommersant. The request covers five Nestle entities in Russia and could lead to a change in ownership.

Nestle, however, told Reuters they have not been contacted by Russian authorities and continue their operations while complying with all regulations. The company's spokesperson wasn't available for comments.

This move reflects a broader trend in Russia, which has exerted control over foreign assets since the Ukraine conflict. Industry sources estimate Nestle's Russian operations to be worth between 160 billion and 175 billion roubles, incorporating assets, brands, and profits.