A Russian decree placed a Sonoco-owned packaging unit and assets tied to other companies under temporary administration, as Reuters found European firms controlled most of 20 foreign-owned firms counted since January 2025.
President Vladimir Putin signed Decree No. 738 on Oct. 15. Management Company Center Capital LLC will administer the full 100% stake in Eviosys Packaging Kuban, whose registered holder is Sonoco Metal Packaging Netherlands Investments B.V. The decree also names assets associated with Tarkett, Ontex, Menshen and Sverige International Holdings.
The order updates a list established under Presidential Decree No. 302, dated April 25, 2023. It places the specified stakes under temporary administration, shifting operational control from the foreign owners.
Reuters' review of official data counted 20 foreign-owned firms put under temporary administration from U.S. President Donald Trump's January 2025 inauguration through the agency's October 2026 report. Three had U.S. links; the rest were controlled by European companies.
Sonoco Products Company said in its 2025 annual report that some Russian operations came with its December 2024 acquisition of Eviosys. Those operations made up about 1% of Sonoco's net sales in 2025. Their assets represented roughly 0.5% of the company's total assets on Dec. 31, 2025.
Ontex Group NV said a government-appointed administrator now oversees operations at its Russian subsidiary. The unit employed around 350 people, according to the company's Oct. 16 update. Ontex put its contribution at about 5% of group revenue and 7% to 8% of adjusted EBITDA under IFRS consolidation. The company said it is assessing how to protect its assets, keep the business running and address the effects on employees and other stakeholders.
Reuters quoted Kremlin spokesman Dmitry Peskov as saying that the companies' countries of origin factored into the decisions. “Their country of origin was one of the factors taken into account in making the decision,” Peskov said. Reuters also reported that he accused the countries involved of illegally expropriating Russian property. A person close to Russian financial regulators told Reuters that Moscow had little interest in taking tougher action against U.S. firms while business negotiations with Washington continued.
Ontex has scheduled its Q3 and January-through-September 2026 results announcement for Wednesday, Oct. 28, at 2 a.m. ET (06:00 UTC).
