German wholesaler and food retailer Metro AG lost operational control of its Russian subsidiary on Monday after Russian President Vladimir Putin signed a decree placing the business under temporary administration. The decree put Metro Cash and Carry’s Russian operations under the management of UK Torg RUS temporarily.
The order, posted on a Russian government website on Monday, did not give a reason for the action. It follows similar moves against the Russian businesses of food company Nestlé and French retailer Auchan under a 2023 decree aimed at businesses associated with "unfriendly countries".
