Nestle reported a £1.46 billion impairment following the seizure of its Russian operations by the Russian government. The Swiss multinational food and beverage company, known for brands such as KitKat, Nescafe, and Cheerios, attributed the write-down to the Kremlin’s takeover of its assets in Russia last month. This move, which also affected the French supermarket chain Auchan, is considered the largest seizure of foreign corporate property since at least 2024.

Despite the disruption in Russia, Nestle posted a 2.8 percent increase in sales for the third quarter of 2026. The company noted that this growth occurred even as it slowed the pace of price increases across its product portfolio. Nestle emphasized that its Russian business accounts for approximately 2 percent of its total global annual sales, and it has now excluded Russian assets from its balance sheet.

The seizure of Nestle's Russian assets reflects ongoing tensions and economic challenges for foreign companies operating in Russia. The company has not provided details on future plans for its operations in the country, focusing instead on its wider global business performance.