The Kremlin has seized control of Carlsberg and Danone’s Russian subsidiaries
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The Kremlin has seized control of Carlsberg and Danone’s Russian subsidiaries


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The business of war and sanctions just got more complicated for foreign companies in Russia. Two foreign companies, Carlsberg and Danone, have found themselves in the line of fire, with the threat of Russia seizing their Russian operations in retaliation for Western sanctions linked to its war in Ukraine.

On July 16th, Russian President Vladimir Putin signed a decree transferring the control of Baltika Breweries%2C a Carlsberg subsidiary, and Danone’s Russian subsidiary to the Rosimushchestvo, the Russian Federal Agency for State Property Management. Soon after, Carlsberg and Danone released statements acknowledging the presidential order. Carlsberg stated that it has “not received any official information from the Russian Authorities regarding the presidential decree or the consequences for Baltika Breweries.”

These companies joining the exodus from Russia comes after Putin signed another decree in April of this year, which allows the Kremlin to introduce “temporary” state control over the assets of companies or individuals from “unfriendly” states, which includes the US and its allies. So far, at least two energy companies, Germany’s Un

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