Russia Targets European Firms, Largely Spares US

Russia has placed 20 foreign-owned companies under temporary administration since Donald Trump took office in January 2025; only three were linked to the United States, while the rest were controlled by European firms. The seizures have included local operations of Swiss food company Nestlé and retailers Auchan and Metro, as well as assets of smaller French, German, Swedish and Belgian companies. Moscow has pointed to European support for Ukraine and alleged seizures of Russian property, while a person close to Russian financial regulators said Moscow has less incentive to target U.S. firms as it pursues business negotiations with Washington. The European Commission called the actions forced expropriation and said they fit a pattern of economic retaliation, while Switzerland said available information supported the view that European companies were being targeted more often than U.S. ones. The pattern comes amid renewed contacts between Moscow and the Trump administration, including talks between Vladimir Putin and U.S. special envoy Steve Witkoff about the war and restoring economic ties.