.Head of state Vladimir Putin authorized a decree Tuesday momentarily handing over command of a significant junk food manufacturer to the Russian federal government.In April 2023, Putin accredited the government to confiscate the Russia-based possessions of international firms coming from countries the Kremlin views as "antagonistic," a relocation extensively seen as retaliation to the West freezing around $300 billion in Russian condition properties.Putin's latest decree commands the seizure of the Glavproduct holding business, numerous of its own subsidiaries and three processing plants. The federal government will definitely additionally take command of Glavproduct's parent firm Promselkhozinvest, which is owned by the U.S.-registered Universal Drink Provider.Universal Beverage is actually had by Russian-born U.S. business owner Leonid Smirnov, who migrated from the Soviet Union in the 1970s and also came back to Russia in the 1990s, depending on to the Kommersant organization daily.The newspaper illustrated Glavproduct as Russia's leading canned food manufacturer, along with greater than five hundred companies of prerecorded pork, compressed dairy and also tinned fish as well as vegetables.Momentary federal government management of the taken assets will definitely be actually managed by Russia's Federal Agency for Condition Home Administration, Rosimushchestvo, depending on to Putin's decree.The USA as well as European Union shut out or took much more than $350 billion of condition and also individual possessions as aspect of Western side permissions over Russia's 2022 attack of Ukraine. EU participant conditions acknowledged in May to make use of billions of euros in make money from the frozen properties to assist upper arm Ukraine as well as cash its own post-war reconstruction.