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Russia puts German retailer Metro's assets under temporary administration amid Ukraine tensions - Finance news and analysis from Global Banking & Finance Review
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Russia puts German retailer Metro's assets under temporary administration amid Ukraine tensions

Published by Global Banking & Finance Review

Posted on September 28, 2026

2 min read

· Last updated: September 28, 2026

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Russia Places Metro AG's Russian Assets Under Temporary Administration Amid Ukraine Tensions

Overview of Metro AG Asset Seizure and Geopolitical Context

Details of the Temporary Administration

MOSCOW, Sept 28 (Reuters) - Russia has placed the local assets of German retailer Metro AG under temporary administration, according to a presidential decree published on Monday, amid heightened tensions between Moscow and Berlin around Ukraine.

The assets have been transferred to Russian company UK Torg RUS, which was established on September 8 and is wholly owned, according to Russian corporate data, by Johannes Tolay, the chief executive of Metro's Russian business.

Background and Political Developments

The decree did not provide a reason for the transfer of control, but it followed a rare weekend meeting between Russian Foreign Minister Sergei Lavrov and his German counterpart Johann Wadephul on the sidelines of the UN General Assembly in New York to discuss Ukraine. 

Diplomatic Tensions Between Russia and Germany

Lavrov complained that he had learned nothing new from Wadephul, whose country is a staunch supporter of Ukraine. Germany this month said it had concluded that Russia was responsible for an attempted drone attack at Leipzig/Halle Airport and ordered a series of measures in response, including the closure of a consulate and a Russian cultural centre in Berlin. Moscow denied the allegations, which it said had been fabricated.

Metro AG's Operations in Russia

Metro operates 93 wholesale cash & carry stores across 51 regions in Russia, employing about 12,000 people. 

In a statement on Monday, its Russian subsidiary did not comment directly on the decree, but said it was operating as normal and fulfilling all obligations to shoppers at its retail outlets and online stores.

Broader Context: Actions Against Foreign Companies

Earlier in September, the Kremlin transferred control of the Russian assets of Swiss food giant Nestle and French retailer Auchan, saying that hostile actions by "unfriendly" countries played a role in that decision.   

(Reporting by Reuters, Writing by Alessandra PrenticeEditing by Andrew Osborn and Alexandra Hudson)

Key Takeaways

  • A presidential decree transferred Metro Cash & Carry’s Russian entities—including Metro Warehouse Noginsk and Metro Cash & Carry LLC—to UK Torg RUS, established September 8 and owned by Metro Russia CEO Johannes Tolay (trud.ru).
  • This seizure aligns with earlier Kremlin actions in September 2026, when Nestlé and Auchan’s Russian operations were placed under temporary management over ties to “unfriendly” countries (themoscowtimes.com).
  • Metro Russia represents a significant portion of the group's business—EUR 2.44 billion in sales and EUR 143 million EBITDA in 2023/24—and faces operational constraints due to sanctions, complicating control and dividend transfers (reports.metroag.de).

References

Frequently Asked Questions

Why did Russia place Metro AG's Russian assets under temporary administration?
A presidential decree placed Metro's Russian assets under administration amid rising tensions with Germany over Ukraine. No official reason was given.
Who is now administering Metro's assets in Russia?
Metro's assets have been transferred to UK Torg RUS, a company owned by Johannes Tolay, CEO of Metro's Russian business.
Is Metro AG still operating in Russia?
Metro's Russian subsidiary stated it is operating as normal and fulfilling obligations to customers at all its retail outlets and online stores.
How many stores does Metro have in Russia?
Metro operates 93 wholesale cash & carry stores across 51 regions in Russia, employing about 12,000 people.
Have other foreign companies been affected in Russia recently?
Yes, earlier in September, Russia placed the local assets of Swiss food giant Nestle and French retailer Auchan under similar administration measures.

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