Putin Says Western Firms Could Regain Russian Assets

Russian President Vladimir Putin said Western companies could eventually regain control of their Russian assets if relations improve and a “favourable scenario” emerges between Moscow and Western governments.

Speaking Thursday at the Valdai Discussion Club, Putin addressed Russia’s decision to place the local operations of several European companies under temporary external administration. He rejected claims that Moscow had nationalized the foreign-owned businesses, describing the measures as a response to actions taken against Russian assets in Western countries.

Putin argued that Russia’s approach allows authorities to temporarily manage certain foreign businesses rather than permanently confiscating them. He specifically pointed to Germany as an example of a European country where Russian companies have lost control of major assets.

“We have not nationalised anything from anyone,” Putin said. He added that Russia had placed some companies under external administration while accusing European governments of seizing Russian enterprises in violation of established rules.

Asked directly whether European companies could recover their Russian assets if political and economic conditions became more favorable, Putin replied that they would get them back.

Russia has expanded its use of temporary administration for foreign-owned businesses amid its broader confrontation with Western countries. Recent measures have affected the Russian operations of companies including Nestlé, Auchan and German retailer Metro. Metro’s Russian assets were placed under temporary administration in late September.

Moscow maintains that such measures are intended partly to provide a mechanism for responding to restrictions or seizures involving Russian companies abroad. Western governments, meanwhile, have frozen significant Russian assets and imposed extensive sanctions following Russia’s invasion of Ukraine.

Putin’s latest comments suggest Moscow could reverse some of its temporary asset-control measures if relations with Western countries improve, potentially opening a path for affected European companies to regain control of their Russian businesses.