Nestlé removes £1.5bn of Russian assets from its accounts after its business was seized by Putin
Summary
Nestlé removed £1.5bn of Russian assets after its business was seized by Putin, the Evening Standard and The Independent reported on Thursday 22 October, the food giant saying the move would have a limited financial impact on its underlying results for 2026. The Financial Times reported that the Swiss group took $1.95bn of net assets from its balance sheet after a presidential decree to control the business.
Latest: Nestlé removed £1.5bn of Russian assets after its business was seized by Putin, the Evening Standard and The Independent reported, the food giant saying the move would have a limited financial impact on its underlying results for 2026, while the Financial Times said the Swiss group took $1.95bn of net assets from its balance sheet after a presidential decree.
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How it unfolded
Thursday 22 October
Nestlé removed £1.5bn of Russian assets after its business was seized by Putin, the Evening Standard and The Independent reported, the food giant saying the move would have a limited financial impact on its underlying results for 2026, while the Financial Times said the Swiss group took $1.95bn of net assets from its balance sheet after a presidential decree.
- 06:15The IndependentNestle removes £1.5bn of Russian assets after business seized by Putin
- 06:15Evening StandardNestle removes £1.5bn of Russian assets after business seized by Putin
- 03:55Financial TimesNestlé removes Russian business from accounts after Kremlin takeover