.President Vladimir Putin authorized a mandate Tuesday briefly handing over control of a significant junk food producer to the Russian federal government.In April 2023, Putin authorized the government to take the Russia-based resources of foreign companies from countries the Kremlin views as "hostile," a technique widely viewed as retribution to the West freezing around $300 billion in Russian condition assets.Putin's most up-to-date decree instructions the seizure of the Glavproduct storing company, numerous of its own subsidiaries and 3 processing plants. The federal government is going to additionally take control of Glavproduct's moms and dad company Promselkhozinvest, which is owned by the U.S.-registered Universal Refreshment Company.Universal Beverage is had by Russian-born united state business owner Leonid Smirnov, that migrated coming from the Soviet Union in the 1970s and went back to Russia in the 1990s, depending on to the Kommersant company daily.The paper explained Glavproduct as Russia's leading junk food developer, along with much more than five hundred brands of canned meat product, compressed milk and also tinned fish as well as vegetables.Short-lived government management of the confiscated resources will be overseen through Russia's Federal Firm for State Property Control, Rosimushchestvo, according to Putin's decree.The USA and also European Union obstructed or seized much more than $350 billion of state and private assets as portion of Western nods over Russia's 2022 attack of Ukraine. EU participant conditions agreed in May to make use of billions of europeans in profits from the frosted properties to aid arm Ukraine as well as finance its own post-war renovation.