Updated

Russian President Vladimir Putin signed a decree placing the Russian assets of France's Auchan and Switzerland's Nestlé under the temporary management of a company called L.E.V. Management. Neither company had exited the Russian market following the full-scale invasion of Ukraine, unlike many other Western firms. The move follows a pattern of the Kremlin seizing or placing under state control the assets of foreign companies operating in Russia, and raises questions about the future of Western corporate presence in the country amid the ongoing war.