.Head of state Vladimir Putin authorized a decree Tuesday temporarily turning over control of a major junk food producer to the Russian government.In April 2023, Putin accredited the government to take the Russia-based properties of international firms from nations the Kremlin views as "antagonistic," a technique largely considered retaliation to the West freezing around $300 billion in Russian state properties.Putin's most up-to-date decree instructions the confiscation of the Glavproduct holding provider, several of its own subsidiaries and 3 canning plants. The government will certainly additionally take command of Glavproduct's parent business Promselkhozinvest, which is actually had due to the U.S.-registered Universal Beverage Provider.Universal Drink is owned by Russian-born united state business owner Leonid Smirnov, that moved abroad coming from the Soviet Union in the 1970s and also went back to Russia in the 1990s, depending on to the Kommersant service daily.The paper described Glavproduct as Russia's leading junk food developer, along with greater than five hundred brand names of canned meat, concise milk and also canned fish as well as vegetables.Brief federal government command of the confiscated resources are going to be looked after by Russia's Federal Agency for Condition Residential Or Commercial Property Control, Rosimushchestvo, depending on to Putin's decree.The USA and European Union blocked out or confiscated greater than $350 billion of condition and personal resources as component of Western nods over Russia's 2022 invasion of Ukraine. EU participant conditions acknowledged in May to use billions of euros in make money from the frozen resources to help upper arm Ukraine and also money its own post-war restoration.