.President Vladimir Putin authorized a decree Tuesday temporarily surrendering command of a primary canned food producer to the Russian government.In April 2023, Putin authorized the authorities to take possession of the Russia-based resources of foreign firms coming from nations the Kremlin deem "antagonistic," a move extensively considered revenge to the West cold around $300 billion in Russian condition assets.Putin's newest decree orders the confiscation of the Glavproduct storing company, many of its subsidiaries and three canning plants. The federal government will also take control of Glavproduct's moms and dad firm Promselkhozinvest, which is actually possessed by the U.S.-registered Universal Beverage Company.Universal Refreshment is actually owned through Russian-born USA business person Leonid Smirnov, that migrated coming from the Soviet Union in the 1970s as well as returned to Russia in the 1990s, according to the Kommersant company daily.The newspaper described Glavproduct as Russia's leading canned food manufacturer, along with more than five hundred companies of canned meat product, short milk as well as tinned fish and also veggies.Short-term federal government management of the taken possession of assets are going to be actually managed by Russia's Federal Firm for Condition Residential Or Commercial Property Monitoring, Rosimushchestvo, according to Putin's decree.The USA and also European Union shut out or even took more than $350 billion of state and also individual assets as portion of Western sanctions over Russia's 2022 attack of Ukraine. EU participant states concurred in May to use billions of europeans in monetize the icy possessions to help arm Ukraine and also cash its post-war renovation.