.President Vladimir Putin signed a decree Tuesday briefly turning over management of a significant canned food manufacturer to the Russian government.In April 2023, Putin authorized the authorities to seize the Russia-based possessions of international providers from countries the Kremlin consider as "unfriendly," a step largely seen as retaliation to the West freezing around $300 billion in Russian state properties.Putin's newest mandate orders the confiscation of the Glavproduct holding company, many of its subsidiaries and three canning plants. The government will definitely likewise take command of Glavproduct's parent firm Promselkhozinvest, which is had by the U.S.-registered Universal Beverage Company.Universal Drink is actually had by Russian-born U.S. businessman Leonid Smirnov, that migrated from the Soviet Union in the 1970s and also returned to Russia in the 1990s, depending on to the Kommersant business daily.The newspaper illustrated Glavproduct as Russia's leading junk food manufacturer, along with much more than 500 brand names of canned chicken, concise milk and also tinned fish and also vegetables.Short-lived federal government control of the seized possessions will certainly be supervised through Russia's Federal Firm for Condition Property Administration, Rosimushchestvo, according to Putin's decree.The USA as well as European Union blocked out or took possession of greater than $350 billion of condition and private resources as aspect of Western side assents over Russia's 2022 attack of Ukraine. EU participant conditions agreed in May to make use of billions of euros in profits from the frosted properties to assist upper arm Ukraine as well as finance its post-war repair.