Vladimir Putin places Akzo Nobel's Russian assets under temporary management

17 Jul, 2026

Vladimir Putin places Akzo Nobel's Russian assets under temporary management

Russian President Vladimir Putin has transferred the local assets of Dutch paints group Akzo Nobel to the temporary management of a company called Razvitie Stroitelnykh Aktivov (RSA), according to a decree published on the official legal information portal.

RSA has been handed stakes in three entities: Akzo Nobel Decor, Akzo Nobel Coatings and Akzo Nobel Lakokraska.

Akzo Nobel Decor posted revenue of 8.1 billion rubles in 2025 with a net profit of 1.3 billion rubles; Akzo Nobel Coatings recorded 5.1 billion rubles and 1.2 billion rubles respectively; and Akzo Nobel Lakokraska had revenue of 3.8 billion rubles and a net loss of 65 million rubles, according to data from Rusprofile, a corporate database. The combined revenue of the businesses placed under temporary management thus came to 17 billion rubles last year ($204 million at the average 2025 exchange rate).

Akzo Nobel is a global company headquartered in Amsterdam. Its Russian presence includes Akzo Nobel Decor, with production facilities in Balashikha, near Moscow. The company makes paints and coatings under the Luxium, Pinotex, Hammerite and Marshall brands.

Akzo Nobel said it was "currently reviewing the decree and assessing its implications". Russia accounts for less than 2 % of the group's global revenue, which stood at 10.16 billion euros in 2025. Following the EU sanctions introduced from 2022, Akzo Nobel discontinued a significant part of its activities in Russia, while the remaining operations were "fully localised and ringfenced, operating independently without financial support" from the parent company, it said in a statement.

In January 2026, a presidential decree placed the Russian subsidiaries of Denmark's Rockwool and Polish-American packaging maker CanPack under RSA's temporary management. RSA was registered in Moscow in September 2025; its shareholders have not been disclosed. The holding company is headed by Timur Amirov, who told Kommersant daily that, following a financial and operational audit, the plan was to restore and localise production of the full product range in Russia, including automotive and aviation paints, and to resume contracts with state companies and the defence industry.

Vladimir Putin places Akzo Nobel's Russian assets under temporary management

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