.Head of state Vladimir Putin authorized a decree Tuesday momentarily handing over management of a significant junk food creator to the Russian federal government.In April 2023, Putin accredited the authorities to take the Russia-based resources of international providers from nations the Kremlin views as "antagonistic," a relocation largely viewed as revenge to the West cold around $300 billion in Russian condition assets.Putin's most up-to-date decree orders the confiscation of the Glavproduct holding firm, numerous of its own subsidiaries as well as three processing vegetations. The authorities will certainly also take management of Glavproduct's moms and dad business Promselkhozinvest, which is owned by the U.S.-registered Universal Drink Business.Universal Beverage is had by Russian-born USA business person Leonid Smirnov, that emigrated coming from the Soviet Union in the 1970s and also went back to Russia in the 1990s, according to the Kommersant business daily.The paper explained Glavproduct as Russia's leading canned food producer, along with more than five hundred brands of canned meat product, short milk and also tinned fish and veggies.Brief federal government management of the seized properties are going to be overseen by Russia's Federal Company for Condition Residential Or Commercial Property Management, Rosimushchestvo, according to Putin's mandate.The United States and also European Union shut out or even took much more than $350 billion of state and private resources as part of Western nods over Russia's 2022 intrusion of Ukraine. EU member conditions concurred in May to utilize billions of euros in monetize the frozen possessions to aid arm Ukraine as well as cash its own post-war repair.