The Russian Ministry of Finance rejected the claim made by Jacob Arup-Andersen, the former chief executive of Carlsberg, that his business in Russia had been stolen. A formal release from the ministry clarified that the Baltika beer company is not government property. It emphasized that the Federal Property Management Agency has been designated as the interim administrator with the owner’s powers, excluding the authority to dispose of assets. The ministry also stressed that placing assets under interim management does not require altering the ownership structure of the company.
The ministry recalled a presidential decree issued on April 25, 2023, which authorized temporary management measures for assets belonging to entities that illegally deprive or restrict the property rights of Russian individuals and organizations. This framework provides a mechanism to safeguard property rights and ensure lawful control over strategic assets during disputes over ownership or control.
Jacob Arup-Andersen, who previously led Carlsberg’s operations in Russia, had asserted that Russian officials had appropriated his business. Those statements prompted a formal response from the government, outlining the current administrative arrangement and the legal basis for interim control over the relevant assets. The exchange underscores ongoing tensions between international investors and the Russian state regarding property rights and asset management during sanctions and regulatory actions.
On July 16, President Vladimir Putin approved a decree transferring the foreign assets of Danone and Baltika to the management of the Federal Property Management Agency. The move specifically placed 98.56 percent of Baltika’s shares, previously held by Carlsberg, 1.35 percent by Hoppy Union LLC, and 0.09 percent by Carlsberg Deutschland GmbH, under interim state administration. The decree is part of a broader set of measures designed to centralize oversight of strategic assets amid geopolitical and economic shifts affecting multinational interests in Russia.
Earlier, the European Commission identified the scope of Russian sovereign assets frozen within the European Union. This finding underscores the intertwined dynamics of international trade, sanctions regimes, and asset freezes that continue to shape corporate strategies and cross-border investments connected to Russia. The developments illustrate how regulatory actions and executive decrees influence ownership structures, asset control, and the practical operation of international enterprises operating within Russia’s borders.