Russian court orders seizure of U.S.-owned Glavprodukt assets

A Russian court has ordered that cash, movable property and assets connected to canned food maker Glavprodukt and its U.S.-based owner Leonid Smirnov be seized, court filings showed, in a lawsuit brought by Russian prosecutors.

Russian President Vladimir Putin decreed in October 2024 that Glavprodukt and other assets ultimately owned by U.S. company Universal Beverage and Smirnov be placed under the "temporary management" of the Russian state, giving Moscow control over the running of the business.

Smirnov previously told Reuters that he had completely lost control of his business in Russia. Universal Beverage Company denies wrongdoing, he said last week.