Putin Hands Control of 5 Western Firms to Ukraine War Veteran

Putin’s decree removed the five Western companies’ control over their Russian operations. It transferred management rights to a Russian firm called Tsentr Kapital. Foreign owners keep nominal legal ownership, but they no longer direct day-to-day operations. This is a change in who runs them, not necessarily who owns them.

For example, French flooring maker Tarkett is among the assets now managed under the decree. Tsentr Kapital was created in February 2026 and belongs to Marat Mirkhaidarov. He is a former regional official who served in Ukraine, and the arrangement strips owners of operating control.

The five Russian businesses reported combined 2025 revenue above 53 billion rubles, or $633.2 million. Tarkett contributed 19.3 billion rubles, while Kappa Rus reported 16.5 billion. Going forward, the decree preserves legal title but leaves Russian operations under temporary management, not the foreign companies’ control.

Temporary management means a state-appointed manager runs a foreign-owned Russian business without formally taking its ownership. It removes the foreign owner’s operational control, while preserving nominal legal title. Permanent nationalization transfers ownership to the state or another Russian owner, making the change lasting.

For example, Putin’s latest decree put five companies’ Russian assets under one firm. The Moscow firm was created in February 2026 and can operate them, while foreign companies retain nominal ownership. Moscow presents such transfers as responses to “hostile actions” and frozen Russian assets abroad.

The distinction matters because temporary management can be reversed. It can also precede a sale or nationalization, but it does not itself settle ownership. The five companies’ combined 2025 revenue exceeded 53 billion rubles. The decree therefore shifts practical control immediately while preserving legal ambiguity.

Russia placed the Russian operations of five Western manufacturers under temporary management. This removes control from foreign owners while preserving their formal legal ownership. The move shows how Moscow is tightening control over companies linked to “unfriendly” countries.

The companies are French flooring maker Tarkett, Belgian hygiene producer Ontex Ru, German packager Menshen, Kappa Rus, and Eviosys. Kappa Rus makes corrugated products, while Eviosys produces metal packaging and belongs to U.S. company Sonoco Products. Putin assigned management rights to Tsentr Kapital, a Moscow firm owned by former regional official Marat Mirkhaidarov.

Together, their Russian businesses generated more than 53 billion rubles in 2025, or $633.2 million. Tarkett contributed 19.3 billion rubles, followed by Kappa Rus at 16.5 billion and Ontex Ru at 10.3 billion. The arrangement lets Russia run the assets while foreign owners retain nominal title, at least temporarily. It also signals that frozen Russian reserves and disputed property remain central to Moscow’s retaliation.

Marat Mirkhaidarov is a 47-year-old former deputy governor and chief of staff from Russia’s Zabaikalsky region. That background matters. Putin appointed his newly established company to manage five Western-owned Russian businesses. The appointment is notable because Mirkhaidarov was not a known industrial executive. He came from regional government and military service instead. That combination connects the asset transfer to Russia’s broader wartime policy.

Mirkhaidarov owns Tsentr Kapital Management Company, a Moscow firm established in February 2026. He volunteered with Chechnya’s Akhmat unit in Ukraine in early 2024. He later cited injuries from a frontline delivery mission. The decree gives Tsentr Kapital management rights, while foreign owners keep formal legal title but lose operational control. Russia authorized this system by decree in 2023. It removes operating power from foreign owners without formally changing ownership.

The five companies earned more than 53 billion rubles in 2025. Tarkett contributed 19.3 billion rubles, while Kappa Rus contributed 16.5 billion. His appointment shows how Russia’s temporary-management system can place valuable foreign assets under domestic control. The Kremlin linked the move to countries holding more than 210 billion euros in frozen Russian reserves in Europe.

In 2023, President Vladimir Putin gave the Russian state power to place foreign-owned assets under temporary management. This authority removes foreign owners’ operational control while leaving them nominal legal ownership. Moscow introduced it as a response to “hostile actions” by governments it calls “unfriendly.”

The policy was used Thursday against five companies, including France’s Tarkett and U.S.-owned Eviosys. Putin transferred management rights to Tsentr Kapital, a Moscow firm owned by former Zabaikalsky official Marat Mirkhaidarov. The mechanism lets Russia run the Russian subsidiaries without formally changing their legal title.

The Kremlin says countries freezing Russian reserves helped determine the targets. Peskov cited more than 210 billion euros held in Europe. Thus, the 2023 authority remains a tool for retaliatory takeovers, while foreign owners face reduced control over Russian operations.

When Russia transfers operational control, Western owners lose day-to-day power over their Russian subsidiaries. They may retain legal ownership, but a decree-appointed manager makes operating decisions. The article reports no immediate layoffs, closures, or customer disruptions.

Putin’s decree gives management rights for five companies to Tsentr Kapital, created in February 2026. Its owner, former regional official Marat Mirkhaidarov, volunteered with Chechnya’s Akhmat unit in Ukraine. The source does not explain whether employee terms or customer service will change.

Together, the businesses reported more than 53 billion rubles in 2025 revenue. For Western owners, operational control disappears while legal title remains, making influence and future returns uncertain. For workers and customers, practical effects remain unreported, including changes to wages, jobs, prices, or supply.

Legal ownership and practical control can split during a conflict. A government may leave a foreign company’s name on records while transferring management powers to another party. This preserves formal title but removes the owner’s ability to run the business.

For example, Putin’s decree placed Russian assets of Tarkett, Ontex Ru, Menshen, Kappa Rus, and Eviosys under Tsentr Kapital’s management. The Moscow firm, established in February 2026, is owned by Marat Mirkhaidarov, a former regional official and Ukraine volunteer. Under Russia’s 2023 system, the state can transfer operating authority while foreign owners retain nominal legal title.

This exposes a limit of property rights: legal ownership may survive, while real control becomes subject to political decisions. The Kremlin links the policy to countries that froze over 210 billion euros in Russian reserves. The five businesses earned over 53 billion rubles in 2025, showing the value. Foreign owners may retain paperwork, but control can depend on diplomacy or policy change.