President Vladimir Putin signed a decree Thursday placing the Russian assets of five major Western manufacturing companies under the temporary management of a little-known firm owned by an ex-official who fought in Ukraine.
The targeted European and U.S. assets include French flooring giant Tarkett, Belgian hygiene manufacturer Ontex Ru, German plastic packager Menshen, corrugated producer Kappa Rus and metal packaging producer Eviosys, a subsidiary of the U.S. Sonoco Products Company.
Their combined 2025 revenue exceeds 53 billion rubles ($633.2 million), with Tarkett accounting for 19.3 billion rubles, Kappa Rus 16.5 billion rubles, Ontex Ru 10.3 billion rubles, and Eviosys and Menshen 6.1 billion rubles and 1.4 billion rubles, respectively.
Putin’s decree hands management rights to Tsentr Kapital Management Company, a Moscow entity established in February 2026, according to corporate registry data cited by RBC.
Tsentr Kapital is owned by 47-year-old Marat Mirkhaidarov, the former deputy governor and chief of staff of Far East Russia’s Zabaikalsky region.
Mirkhaidarov volunteered to serve in Ukraine with Chechnya’s Akhmat unit in early 2024, according to exiled media reports.
“I’m a patriot, I served in the special military operation [in Ukraine]. I have combat awards,” Mirkhaidarov told the Agentstvo outlet on Friday, expressing caution about his and his family’s safety over the news.
Mirkhaidarov stepped down from his regional administration post in March 2025, citing the need for medical rehabilitation after sustaining injuries during a delivery mission near the frontline.
Putin signed an order in 2023 granting the state the authority to place foreign assets under its temporary management. The regime strips foreign owners of operational control over their Russian subsidiaries while preserving nominal legal title.
Moscow has described the asset seizures as a response to “hostile actions” taken by “unfriendly” foreign governments.
On Friday, the Kremlin said the latest transfers represent a continued policy “trend” targeting countries that froze more than 210 billion euros in Russian reserves in Europe.
“Their origin was one of the factors taken into account when making the decision,” Kremlin spokesman Dmitry Peskov told reporters during a daily briefing.
“We’re talking about those countries that take part in illegally holding Russian money, Russian assets. These are countries that take part in the illegal expropriation of Russian companies’ property,” Peskov said.
Reuters contributed reporting.
