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German President Vladimir Putin ordered the Russian assets of retailer Metro AG to be placed under temporary administration. The move comes amid escalating tensions between Germany and Russia following an alleged drone attack at Leipzig Airport and several retaliatory diplomatic measures. Similar actions have allowed local owners to acquire the Russian businesses of foreign companies at reduced prices.
FRANKFURT, Germany — President Vladimir Putin has ordered the Russia n assets of German retailer Metro AG placed under the temporary administration. The step comes against a background of tension between Germany and Russia over the The order, posted Monday on the government website, did not state a reason.
The step follows similar steps against the Russia businesses ofGermany has concluded that Russia was responsible for an attempted drone attack at the Leipzig airport and closed a Russian consulate in Bonn and a Russian cultural center in Berlin. Russia in response closed the German consulate in St. Petersburg. Moscow denied the allegations. Russian Foreign Minister Sergei Lavrov met his German counterpart Johann Wadephul on Saturday on the sidelines of the U.N.
General Assembly but was dismissive afterward, saying that Wadephul"simply reiterated his official public position condemning Russia... you can judge for yourself whether that counts as dialogue or not.
" Temporary administration has led to local owners taking over the Russia businesses of French dairy concern Danone and Danish brewer Carlsberg at knockdown prices.
Russia Germany Metro AG Temporary Administration Diplomatic Tensions
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