On December 12, 2025, a Paris court issued a temporary freeze on approximately €110 million ($129 million) of Alphabet’s assets in France that were linked to its former Russian operations. The order was issued by the administrator of Google’s defunct Russian business following a ruling by a Moscow arbitration court that found the company had made an illegal dividend payment in 2021 worth about 10 billion roubles (roughly $126 million).
The French court’s decision is a direct consequence of the Russian tribunal’s judgment, which requires Alphabet to surrender the frozen assets until the legal dispute is resolved. Alphabet can challenge the freeze in the Paris judicial system, but the court has indicated that the enforcement of the Russian ruling will be recognized and enforced in France, creating a binding constraint on the company’s ability to access or liquidate the assets. The freeze is expected to remain in place until the outcome of the French legal proceedings, which could take several months.
Alphabet’s overall financial position remains robust. In the third quarter of 2025, the company reported record revenue of $102.3 billion, a 16 % year‑over‑year increase, and net income of $34.9 billion, up 33 %. Google Cloud revenue grew 34 % to $15.2 billion, underscoring the strength of its high‑margin cloud and AI businesses. The €110 million freeze represents a very small fraction of Alphabet’s multi‑trillion‑dollar market capitalization and does not materially affect its liquidity or earnings profile.
The asset freeze is part of a broader pattern of Russian authorities pursuing overseas assets of Western companies. Following the seizure of Google Russia’s bank accounts in 2022 and its subsequent bankruptcy filing, Russian liquidators have sought to enforce arbitration rulings in Spain, Turkey, and South Africa. The French action reflects the escalating geopolitical tensions between Russia and the European Union, where EU sanctions have targeted Russian entities while Russia retaliates by targeting Western firms’ assets abroad.
The announcement did not trigger a significant shift in investor sentiment. Analysts have largely focused on Alphabet’s continued AI‑driven growth and the company’s strong financial performance, rather than the regulatory setback. The freeze is viewed as a contained legal issue that does not alter the company’s long‑term strategic trajectory.
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