Metro asked the Kremlin to seize its own Russian business before Putin could act

Metro’s chief executive travelled to meet Vladimir Putin’s economic adviser with an unusual request: that Russian authorities place the German retailer’s own business in the country under temporary management.

The company had concluded it needed to “act preemptively” after its management believed Auchan, Nestlé, Lemana PRO and FM Logistic had been caught off guard by Putin’s 17 September decree placing them under external management.

Metro then asked authorities to take the step itself.

Putin signed a decree on 28 September 2026 putting Metro’s Russian assets under temporary management. The joint-stock company UK Torg Rus was appointed as the temporary manager.

UK Torg Rus was registered on 8 September, three weeks before Putin’s decree. Its sole owner is Johannes Tholey, who has led Metro Cash & Carry, Metro’s Russian business, since 2023.

Metro had stayed in Russia after the start of the full-scale invasion of Ukraine. In 2023, it said: “Metro Russland is also a large business with significance for the overall portfolio of the group”.

Metro said its decision to remain was also intended to preserve the company’s value for shareholders.

Since Russia’s attack on Ukraine, Metro has taken various measures to reduce the connections between itself and Metro Russland. Its Russian sales reached €2.6 billion in the 2024–2025 financial year.

Metro formally remains the owner of its Russian subsidiary, though it no longer has operational control of the business.

Russia is relying on a 2023 order allowing the state to put foreign assets under “temporary management”. Moscow calls such asset seizures a response to “hostile actions” by “unfriendly” governments.

A senior Russian government source told Reuters that placing several major Western companies’ Russian assets under temporary management was intended to make European countries “think about what measures they are taking and what sanctions they are introducing”.

Since the invasion began, Moscow has progressively restricted Western companies’ ability to leave Russia and has, in some cases, taken control of their assets. Metro’s decision came during heightened tensions between Moscow and Berlin over the Ukraine war.