Kremlin transfers control of German retailer Metro’s Russia business
Headline from WTOP Washington DC
FRANKFURT, Germany (AP) — President Vladimir Putin has ordered the Russian 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 war in Ukraine.
WTOP Washington DC's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Russian President Vladimir Putin ordered local Metro Cash and Carry units placed under temporary administration, the latest in a series of Kremlin moves to assert control over foreign businesses in the country.
FRANKFURT, Germany (AP) — President Vladimir Putin has ordered the Russian 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 war in Ukraine.
Metro AG is one of the world’s largest retailers, specializing in food wholesale and food distribution to restaurants and hotels. Metro AG first entered the Russian market in 2001 and now operates 91 wholesale stores, employing around 9,000 employees in the country.
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Kremlin transfers control of German retailer Metro’s Russia business | Since Then
