Promsvyazbank
Promsvyazbank is a Russian state-owned bank focused on servicing the defence industry and military-industrial complex enterprises. It was founded in 1995 and was rescued by the Central Bank of Russia in 2018, after which it was nationalised and restructured into a backbone lender for Russia's defence sector. The bank handles state defence contracts and provides banking services to sanctioned companies.
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Putin decree places Auchan, Nestle and former Leroy Merlin assets in Russia under new management
President Vladimir Putin signed a decree dated September 17 placing the Russian assets of Auchan, Nestle, and the former Leroy Merlin chain under the management of a Moscow-registered company with no prior commercial activity. The assets were transferred to "L.E.V. Management," registered in October 2024, whose general director is Andriy Krayushin and whose beneficial owners have not been disclosed. The decree extends a pattern of accelerated nationalization of foreign-owned businesses in Russia.