Carlsberg's Russian Assets Removed From State Control List

A Russian presidential decree removed Carlsberg's assets from state control. Moscow had seized Carlsberg's stake in Baltika Breweries in July 2023. The decree voids previous control by the federal property agency. Carlsberg acknowledged the move, while Baltika did not comment.

A significant development in international business relations unfolded as Danish brewer Carlsberg's assets in Russia were removed from a list of Western assets under governmental management, per a presidential decree revealed Monday.

In July 2023, Moscow seized control of Carlsberg's stake in Baltika Breweries, placing it under 'temporary management,' leading Carlsberg Group CEO Jacob Aarup-Andersen to claim the business was stolen. President Vladimir Putin's decree nullified the previous decision to place Carlsberg's Russian assets under the custody of the national federal property management agency, Rosimushchestvo.

The decree leaves open who will control the assets moving forward. Carlsberg has acknowledged the Russian authorities' announcement, yet it remains without further comment. Baltika, recognized as Russia's largest brewery, has yet to provide a statement following the decree's revelation.

(With inputs from agencies.)