.President Vladimir Putin authorized a decree Tuesday temporarily giving up command of a major junk food manufacturer to the Russian authorities.In April 2023, Putin licensed the authorities to take the Russia-based resources of overseas firms coming from nations the Kremlin views as "antagonistic," a move widely viewed as retribution to the West freezing around $300 billion in Russian condition possessions.Putin's most recent decree commands the seizure of the Glavproduct holding firm, many of its subsidiaries and also 3 canning vegetations. The government will certainly likewise take control of Glavproduct's parent business Promselkhozinvest, which is owned by the U.S.-registered Universal Beverage Business.Universal Refreshment is actually had through Russian-born U.S. business owner Leonid Smirnov, that emigrated coming from the Soviet Union in the 1970s as well as came back to Russia in the 1990s, according to the Kommersant company daily.The newspaper described Glavproduct as Russia's leading canned food developer, with greater than five hundred labels of canned chicken, short milk as well as tinned fish and also vegetables.Momentary federal government control of the taken possessions are going to be supervised by Russia's Federal Company for Condition Residential Property Monitoring, Rosimushchestvo, according to Putin's decree.The USA and European Union blocked out or even confiscated much more than $350 billion of state and also individual assets as aspect of Western nods over Russia's 2022 intrusion of Ukraine. EU participant conditions agreed in May to make use of billions of europeans in monetize the frosted properties to assist upper arm Ukraine and also cash its own post-war restoration.