Putin hands seized Russian assets of Danone, Carlsberg to allies

Putin hands seized Russian assets of Danone, Carlsberg to allies

Russia named a relative of Chechen chief Ramzan Kadyrov and an ally of President Vladimir Putin to move the seized native operations of France’s Danone SA and Denmark’s Carlsberg A/S.

Yakub Zakriev, 32, who’s Chechnya’s agriculture minister, is now listed as basic director of Danone Russia, in response to the official Spark-Interfax disclosure service. He’s a nephew of Kadyrov, the Chechen ruler who’s a protege of Putin and who has been repeatedly accused of human rights violations within the southern Russian republic.

The Federal Property Administration Company additionally appointed Taimuraz Bolloyev to steer Carlsberg’s Baltika Brewing Co., in response to a spokesman for the Russian firm. Russia’s RBC and Vedomosti newspapers reported the appointments earlier.

“Putin is distributing property to his vassals,” mentioned Andrei Kolesnikov, a senior fellow on the Carnegie Russia Eurasia Heart. The takeovers symbolize “a type of oligarchic state capitalism that doesn’t exist outdoors of ties with the state. And definitely it is going to end in much less effectivity within the economic system.”

Russia on Sunday seized management of the native subsidiaries of Danone and Carlsberg beneath a decree Putin signed in April. The decree allowed for the property of corporations or people from “unfriendly” nations to be taken over by the state in response to comparable strikes or the specter of them by these international locations. The yogurt maker and the brewer had each been making an attempt to depart Russia. 

The change to the administration of the brewery has “been made with out the data or approval by Carlsberg Group,” the corporate mentioned in an emailed assertion Wednesday. “It’s unclear to Carlsberg Group what implications this improvement can have on the continuing operations of Baltika Breweries in Russia in addition to the present gross sales course of.”

Bolloyev, 70, who beforehand headed Baltika from 1991 to 2004, is president of a clothes firm that grew to become the only real provider for Russia’s military in 2012, Vedomosti reported Tuesday. Putin appointed him as head of the Olimpstroy state company that constructed sports activities services for the 2014 Winter Olympics in Sochi. 

Bolloyev was additionally a marketing campaign consultant for Putin within the 2000 and 2004 presidential elections. Along with Putin and billionaire businessman Arkady Rotenberg, the president’s childhood good friend, Bolloyev is a member of the board of the Yavara-Neva judo membership in St. Petersburg. 

Beforehand, Russia used the powers to take management of utilities owned by Finland’s Fortum Oyj and Germany’s Uniper SE in April. Days later, officers who had labored in state-run oil producer Rosneft PJSC, headed by Putin’s ally Igor Sechin, have been appointed to run each models.

–With help from Andy Hoffman.

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