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Live News EQUITY ARTICLE M impact

Russia puts Metro's local assets under temporary administration

The decree follows heightened tensions with Germany over Ukraine. Metro's Russian subsidiary said it was operating as normal.

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(Updates with statement from Metro in paragraph 4, context throughout) MOSCOW, Sept 28 (Reuters) — Russia has placed the local assets of German retailer Metro AG under temporary administration, according to a presidential decree published on Monday, amid heightened tensions between Moscow and Berlin around Ukraine. The decree did not provide a reason for the transfer of control, but followed a rare weekend meeting between Russian Foreign Minister Sergei Lavrov and his German counterpart Johann Wadephul on the sidelines of the UN General Assembly in New York to discuss Ukraine.

Lavrov complained that he had learned nothing new from Wadephuhl, whose country is a staunch supporter of Ukraine. Germany earlier this month said it had concluded that Russia was responsible for an attempted drone attack at Leipzig/Halle Airport and ordered a series of measures in response, including the closure of a consulate and a Russian cultural centre in Berlin. Moscow denied the allegations, which it said had been fabricated. In a statement on Monday, Metro's Russian subsidiary did not comment directly on the decree, but said it was operating as normal and fulfilling all obligations to shoppers at its retail outlets and online stores.

Earlier in September, the Kremlin transferred control of the Russian assets of Swiss food giant Nestle and French retailer Auchan, saying that hostile actions by "unfriendly" countries played a role in that decision. com)