Ex-German Chancellor Schröder Joins Board of German Chain in Russia

Oct. 2, 2026 Vladimir Putin with former German Chancellor Gerhard Schroeder. REUTERS / Grigory Dukor Former German Chancellor Gerhard Schröder has joined the supervisory board of Hyperglobus, the Russian arm of the German superstore chain Globus, business media reported Friday. The appointment comes as Western retailers face the risk of state asset seizures, which President Vladimir Putin defended as a response to the EU freezing its state funds. Hyperglobus owner Thomas Bruch praised Schröder as an “ideal addition” who would help maintain a “dialogue-oriented approach” in Russia, according to a statement published by Kommersant. Schröder was quoted emphasizing the importance of maintaining economic ties and investing in Russia’s food sector. He will be responsible for supporting the strategic development of the business, RBC cited the company as saying. Schröder’s appointment marks a strategic move to safeguard the company from state seizures, according to Kommersant. Putin has previously proposed Schröder as the EU’s representative in potential talks with Russia. Brussels and Berlin have rejected the candidacy of Schröder, who is Putin’s longtime personal acquaintance and who has previously headed the boards of Russian state energy giants Rosneft and Nord Stream. Russian authorities recently took control of the domestic operations of German wholesaler Metro Cash & Carry, Swiss food giant Nestlé, French retailers Auchan and Leroy Merlin (renamed to Leman Pro in Russia), as well as two French logistics companies. On Thursday, Putin defended the asset seizures as a “symmetrical response” to Western freezes of Russian state assets abroad. He noted that control could eventually be returned under “favorable conditions.” Globus, which operates 21 hypermarkets across Russia, has restructured to maintain its presence in the Russian market despite broader Western corporate exits following the 2022 invasion of Ukraine. German media reported recently that Globus expanded its Russia footprint with tens of millions of euros in investments and new large-format stores around Moscow. Globus Holding said it had fully spun off its Russian superstores and that they are legally and operationally independent. It said questions should be directed to Hyperglobus. Reuters contributed reporting. Read more about: Trade , Sanctions Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more China Now Supplies 90% of Russia’s Sanctioned Tech Imports – Bloomberg Sources told Bloomberg that tougher EU sanctions had further restricted Russia’s remaining channels for acquiring Western technology directly. 2 Min read opinion Jason Corcoran Trump-Putin Call Signals Risky Shift Toward Appeasement Through Trade Russia is a huge market. But with Europe staying the course of sanctions, American countries looking to trade with Russia face enormous risks. 5 Min read Sanctions-Hit Russia Wary of Over-Reliance on Chinese Tech – Bloomberg Chips, network devices and electronics assessed to be areas of particular vulnerability to Chinese dependence. 2 Min read World's Biggest Shipping Groups Suspend Russian Deliveries Container shipping companies carry the bulk of the world's manufactured goods, making them a vital part of the global trade system.