The Kremlin has placed Swiss food giant Nestle's Russian assets under temporary external administration, according to Reuters. Nestle responded to President Putin's decision to put its Russian business under external management.
The action directly impacts Nestle, which is listed on Switzerland's SMI index. It also raises exposure and asset recovery risks for other Swiss corporations operating in or with ties to Russia.
Further verified details regarding the scope and duration of the administration were not immediately available.
