.Head of state Vladimir Putin signed a mandate Tuesday momentarily turning over control of a major canned food creator to the Russian federal government.In April 2023, Putin authorized the government to confiscate the Russia-based properties of international firms from countries the Kremlin deem "hostile," a step extensively considered retribution to the West freezing around $300 billion in Russian state properties.Putin's most current mandate orders the confiscation of the Glavproduct storing firm, many of its own subsidiaries and three canning vegetations. The federal government will additionally take management of Glavproduct's parent provider Promselkhozinvest, which is actually had by the U.S.-registered Universal Drink Business.Universal Refreshment is owned by Russian-born united state business person Leonid Smirnov, who departed coming from the Soviet Union in the 1970s as well as returned to Russia in the 1990s, according to the Kommersant business daily.The paper explained Glavproduct as Russia's leading canned food producer, with much more than 500 brands of canned meat, concise milk as well as tinned fish as well as veggies.Short-term federal government control of the confiscated assets will be managed by Russia's Federal Organization for Condition Home Administration, Rosimushchestvo, depending on to Putin's decree.The United States as well as European Union obstructed or even took greater than $350 billion of state and also personal assets as part of Western side assents over Russia's 2022 invasion of Ukraine. EU participant conditions conceded in May to use billions of euros in profits from the frosted properties to help upper arm Ukraine and finance its post-war repair.