Published by Global Banking & Finance Review®
Posted on March 12, 2025
1 min readLast updated: January 24, 2026
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A Russian court has seized assets of Glavprodukt, owned by U.S.-based Leonid Smirnov, following a decree by President Putin, placing them under state control.
(Reuters) - 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.
(Reporting by Reuters; Writing by Alexander Marrow; Editing by Christopher Cushing)
The main topic is the seizure of Glavprodukt assets by a Russian court, linked to U.S.-based owner Leonid Smirnov, following a decree by President Putin.
The assets were seized as part of a lawsuit by Russian prosecutors, following a decree by President Putin to place them under state control.
Leonid Smirnov is the U.S.-based owner of Glavprodukt, whose assets in Russia have been seized by court order.
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