Iran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikesAramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensifyRussia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target MoscowEbola reaches Nigeria as WHO warns of a more complex outbreakOil climbs to five-month high as global stocks fallMillions of exploit attempts follow AI-found PHP flaws as sites return onlineFrench risk premium hits euro-crisis levels as borrowing costs pass USDeath toll passes 150 after drone strike on Abyei marketTrilateral Ukraine talks eyed for November as Witkoff's Putin remark angers alliesMagnitude 7 earthquake kills at least 16 in northern TibetFrance bans non-union protests ahead of Saturday demonstrationsLula accepts Bolsonaro's terms for record disclosure before Brazil run-offAI debt worries weigh on markets as Meta credit risk hits recordTaiwan and China prepare as Super Typhoon Champi approachesIsrael's race stays tight as Netanyahu courts right-wing votersExperts expect Meta to fight $25bn New Mexico penalty on appealIsrael frees nine settler suspects to house arrest as UN calls West Bank violence out of controlSerbia's student list rallies in Belgrade as campaign closes before Sunday's voteNorth Korea to restart border propaganda broadcasts as tensions riseDeepSeek reportedly raises $15bn as TSMC seeks rare-earth workaroundsGermany arrests Ukrainian man suspected of spying for RussiaItalian truckers ease fuel-price protests as government lines up aidTrump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's callTesla profit falls as analysts debate SpaceX mergerProtests in Indonesia demand action as haze blankets Southeast AsiaAnkara rejects Greek and EU criticism of Libya maritime dealAfghanistan-Pakistan conflict turns to proxy groups after eight monthsICC wins EU Sakharov Prize while under US sanctionsIndonesia moves to shore up markets ahead of MSCI index changeRetail investors fully subscribe Jio Platforms IPOQatar, Turkey, Pakistan and Indonesia sign defence industry pactNestlé removes Russian business from accounts after Kremlin takeoverAlbanian lawmakers scuffle in parliament as street protests continueNATO agency to let Ukraine buy weapons through its procurement systemAung San Suu Kyi speaks to son for first time in over five yearsIsraeli fire kills four in Gaza as hospitals face fuel and medicine shortagesBarclays to cut 5,000 jobs as it steps up AI adoptionIran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikesAramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensifyRussia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target MoscowEbola reaches Nigeria as WHO warns of a more complex outbreakOil climbs to five-month high as global stocks fallMillions of exploit attempts follow AI-found PHP flaws as sites return onlineFrench risk premium hits euro-crisis levels as borrowing costs pass USDeath toll passes 150 after drone strike on Abyei marketTrilateral Ukraine talks eyed for November as Witkoff's Putin remark angers alliesMagnitude 7 earthquake kills at least 16 in northern TibetFrance bans non-union protests ahead of Saturday demonstrationsLula accepts Bolsonaro's terms for record disclosure before Brazil run-offAI debt worries weigh on markets as Meta credit risk hits recordTaiwan and China prepare as Super Typhoon Champi approachesIsrael's race stays tight as Netanyahu courts right-wing votersExperts expect Meta to fight $25bn New Mexico penalty on appealIsrael frees nine settler suspects to house arrest as UN calls West Bank violence out of controlSerbia's student list rallies in Belgrade as campaign closes before Sunday's voteNorth Korea to restart border propaganda broadcasts as tensions riseDeepSeek reportedly raises $15bn as TSMC seeks rare-earth workaroundsGermany arrests Ukrainian man suspected of spying for RussiaItalian truckers ease fuel-price protests as government lines up aidTrump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's callTesla profit falls as analysts debate SpaceX mergerProtests in Indonesia demand action as haze blankets Southeast AsiaAnkara rejects Greek and EU criticism of Libya maritime dealAfghanistan-Pakistan conflict turns to proxy groups after eight monthsICC wins EU Sakharov Prize while under US sanctionsIndonesia moves to shore up markets ahead of MSCI index changeRetail investors fully subscribe Jio Platforms IPOQatar, Turkey, Pakistan and Indonesia sign defence industry pactNestlé removes Russian business from accounts after Kremlin takeoverAlbanian lawmakers scuffle in parliament as street protests continueNATO agency to let Ukraine buy weapons through its procurement systemAung San Suu Kyi speaks to son for first time in over five yearsIsraeli fire kills four in Gaza as hospitals face fuel and medicine shortagesBarclays to cut 5,000 jobs as it steps up AI adoption
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Nestlé Russia seizure

Where things stand

Nestlé has removed its Russian business from its accounts, writing off $1.95bn of net assets, after a Russian presidential decree placed the operation under Kremlin control. The Swiss group still beat sales forecasts without the seized unit, Reuters reports.

Nestlé, the Swiss food group, has operated in Russia for decades. The topic covers the Russian state's move to take control of that business by presidential decree, and how Nestlé is accounting for the loss.

Timeline in detail

Friday, 23 October 2026Economy

Nestlé removes Russian business from accounts after Kremlin takeover

Nestlé has taken $1.95bn of net assets off its balance sheet after a Russian presidential decree to take control of its business there, the Financial Times reports. Reuters reports that the Swiss group beat sales forecasts after excluding the seized Russian business.