German grocery wholesaler Metro’s Russian operation donates 1 billion rubles to a fund equipping front-line Russian troops, weeks after Putin placed its assets under temporary management

Source: Metro

The retail chain Metro, whose Russian assets were placed under temporary management less than a month ago, said it had donated 1 billion rubles to the “People’s Front: Everything for Victory!” fund.

The money will go toward “purchasing equipment needed by the military on the front lines,” the company said in a press release.

The fund said the money would help meet “urgent needs” for vehicles, communications and reconnaissance systems, equipment to counter drones, and “other things needed by troops in the “special military operation.”

“As part of Russia’s economic system, we believe it is important to take part in the state’s strategic initiatives,” said Johannes Tholey, Metro’s chief executive in Russia.

In late September, Russian President Vladimir Putin signed a decree placing the assets of the German retail chain Metro under temporary management. The company had remained in Russia after the start of Russia’s full-scale invasion of Ukraine. The appointed manager was JSC UK Torg Rus, a company registered three weeks earlier. Its listed owner was Johannes Tholey, who has headed Metro Cash & Carry since 2023.

Le Monde later reported that Metro itself had proposed that the Russian authorities place it under temporary management, deciding to “act preemptively” to avoid the worst-case scenario.

From Meduza’s archives

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German grocery wholesaler Metro’s Russian operation donates 1 billion rubles to a fund equipping front-line Russian troops, weeks after Putin placed its assets under temporary management

From Meduza’s archives

Here’s what we know about Putin’s decree empowering the Russian state to take control of companies that fail to stop Ukrainian drones

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Putin says he won’t nationalize markets, but here are three tactics federal prosecutors are using to seize Russians’ assets

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