.President Vladimir Putin signed a decree Tuesday temporarily turning over management of a major canned food creator to the Russian government.In April 2023, Putin accredited the government to confiscate the Russia-based resources of foreign firms coming from nations the Kremlin views as "hostile," an action largely considered retribution to the West cold around $300 billion in Russian condition possessions.Putin's most recent mandate orders the confiscation of the Glavproduct storing company, many of its own subsidiaries and 3 canning vegetations. The authorities will certainly additionally take management of Glavproduct's moms and dad firm Promselkhozinvest, which is owned by the U.S.-registered Universal Beverage Firm.Universal Drink is owned through Russian-born U.S. businessman Leonid Smirnov, who moved abroad from the Soviet Union in the 1970s and also returned to Russia in the 1990s, according to the Kommersant business daily.The newspaper explained Glavproduct as Russia's leading junk food developer, with much more than five hundred labels of canned meat product, short milk as well as tinned fish and also vegetables.Short-lived federal government management of the seized properties will certainly be supervised through Russia's Federal Agency for State Building Administration, Rosimushchestvo, depending on to Putin's mandate.The USA and also European Union obstructed or took possession of much more than $350 billion of state as well as personal possessions as aspect of Western permissions over Russia's 2022 attack of Ukraine. EU participant conditions agreed in May to make use of billions of europeans in profits from the frozen assets to aid arm Ukraine as well as finance its own post-war renovation.