Which Western Companies Have Been Expropriated by Russia?

Seizure of Western Assets in Russia

In response to sanctions imposed by the West against Russia, the Kremlin has initiated the seizure of assets from various Western companies.
This has been done through decrees signed by President Vladimir Putin and judicial orders issued in conflicts related to halted projects or frozen funds.

These measures primarily affect multinational corporations operating in strategic sectors such as energy, finance, and industrial manufacturing.
Numerous companies have seen their assets in Russia placed under temporary management or transferred to new Russian entities.

Key Companies Affected

Below is a list of the major firms impacted by these actions, along with details of operations conducted to date:

1.
AgroTerra: In April 2023, Russia seized the assets of AgroTerra, an agricultural group backed by Dutch investment funds, placing them under temporary control.

2.
Amedia: In September 2023, Putin’s decree transferred Amedia’s assets to state management after its print production control in Russia was handed to journalist Dmitry Muratov in April 2022.

3.
Carlsberg: In July 2023, the Russian government took control of the Danish Carlsberg’s stake in Baltika Breweries, placing it under temporary governmental management.

4.
Commerzbank: In June 2023, a Russian court ordered a compensation of €94.9 million to a pipeline company in northwest Russia, with most of Commerzbank’s assets already seized.

5.
Danone: The Russian subsidiary of the French yogurt producer was placed under temporary state control in July 2023 but was retracted in March 2023 before the sale of its dairy and plant-based division.

6.
Deutsche Bank: In May 2023, a Russian court seized up to €238.6 million in securities, real estate, and bank accounts related to Deutsche Bank and its Russian subsidiary.

7.
Fortum: In April 2023, Putin’s decree placed Fortum’s Russian division, involved in power plants, under state control.

8.
Fraport: In December 2023, Putin signed a decree transferring the management of Pulkovo Airport in Saint Petersburg to a Russian holding, removing control from Fraport and other Gulf investors.

9.
JPMorgan Chase: In May 2023, JPMorgan Chase indicated that its assets in Russia might be seized following legal disputes, as a Russian court ordered the freezing of funds in April.

10.
Linde: On August 14, 2023, a Russian court froze the assets of Linde’s UK division, valued at approximately $1.15 billion, amid a gas treatment plant dispute.

11.
OMV: In December 2023, decrees transferred OMV’s stakes in the Yuzhno-Russkoye and Achimov projects to new Russian companies, set to be sold to Gazovyye Tekhnologii.

12.
Raiffeisen: In September 2023, a Russian court froze the shares of Raiffeisen’s local subsidiary, blocking the sale of its Russian unit.

13.
Rolf: On February 21, 2023, a Russian court transferred the ownership of Rolf’s automobile dealership shares to the Russian state after placing them under temporary management in December 2022.

14.
UniCredit: In May 2023, a Saint Petersburg court seized assets, accounts, and properties of UniCredit and its two subsidiaries related to a gas project lawsuit.

15.
Uniper: In April 2023, Uniper’s Russian division, Unipro, managing five power plants, was placed under external management with a new CEO.

16.
Wintershall Dea: In December 2023, a decree formalized the transfer of Wintershall Dea’s stakes in the Yuzhno-Russkoye and Achimov projects to new Russian companies, marking the loss of control reported since January 2023.