Swiss Nestlé intends to return its assets in Russia

Swiss authorities are trying to help Nestlé recover assets in Russia through diplomatic channels. This is reported by the newspaper Die Neue Zürcher Zeitung (NZZ) with reference to the press service of the company.

" As a result of Vladimir Putin's order, Nestlé lost control of its Russian subsidiary. Now the federal government (of Switzerland) must help prevent the worst in Moscow", the publication says.

The Swiss State Secretariat for Economic Affairs and the country's Federal Department of Foreign Affairs told NZZ that they are in contact with Nestlé and are helping her " through diplomatic channels". Their efforts are aimed at providing the concern with an opportunity to present its position to the Russian authorities and achieve the abolition of temporary management.

It is noted that the concern intends to take "all necessary steps " to protect its rights.

" We are currently studying the situation and possible options for action, " Nestlé said.

Vasily Astrov, an expert at the Vienna Institute for International Economic Studies, does not rule out that Nestlé may repeat the fate of the Russian division of Danone, which in 2023 passed under temporary management, and a year later was sold to a new owner. According to the newspaper, such an outcome is not predetermined: according to statistics from the German-Russian Chamber of Commerce, 27 foreign companies have been under temporary management since 2023, but assets have been sold in rare cases, including Danone and Carlsberg. Moreover, Nestlé, unlike them, did not announce its intention to leave the Russian market.

As reported by EADaily, the assets of Auchan and Nestlé were transferred to a Russian company. This is stated in the decree of the President of the Russian Federation Vladimir Putin.