On Thursday 17 September, Vladimir Putin signed a decree taking operational control of Nestlé’s Russian business. The next day, Nestlé SA (SWX: NESN) share price closed down 2.6% in Zurich. It was global news, and no one could have fathomed that Singapore would sneeze from this cold in Russia. On Monday 21 September, Food Empire Holdings Ltd (SGX: F03), the Singapore-listed coffee company, fell 10%. The owner of the seized business barely moved, while a company standing next to it lost almost four times as much. The odd observation is the question for this piece. Food Empire relies on Russia as its key market, and it earns about a third of its profit in Russia. But as of time of writing, Food Empire itself hasn’t been named in any Russian decree. Is there a mistake, or a fundamental hit? Is “Seize” the right word? Russia didn’t really confiscate Nestlé’s business. The two subsidiaries – Nestlé Russia and Nestlé Kuban, are under “temporary administration”....