.Head of state Vladimir Putin authorized a decree Tuesday briefly handing over command of a significant canned food creator to the Russian government.In April 2023, Putin accredited the federal government to take the Russia-based possessions of foreign companies from nations the Kremlin consider as "hostile," an action widely considered retaliation to the West freezing around $300 billion in Russian condition resources.Putin's most current decree instructions the seizure of the Glavproduct storing company, many of its own subsidiaries and also three canning vegetations. The federal government will also take management of Glavproduct's moms and dad business Promselkhozinvest, which is actually possessed due to the U.S.-registered Universal Beverage Firm.Universal Refreshment is owned by Russian-born USA entrepreneur Leonid Smirnov, that migrated coming from the Soviet Union in the 1970s and also returned to Russia in the 1990s, depending on to the Kommersant organization daily.The newspaper illustrated Glavproduct as Russia's leading junk food producer, with greater than five hundred labels of canned chicken, condensed milk and tinned fish and also veggies.Momentary authorities control of the taken possession of possessions will certainly be actually overseen by Russia's Federal Organization for State Property Administration, Rosimushchestvo, depending on to Putin's mandate.The USA and also European Union blocked or even confiscated more than $350 billion of state as well as private resources as portion of Western side sanctions over Russia's 2022 attack of Ukraine. EU participant states agreed in May to utilize billions of europeans in profits from the frosted assets to aid arm Ukraine as well as cash its post-war restoration.