U.S. Food Company Glavprodukt Seized by Russian State Amid Tensions
The Russian state has taken control of U.S.-owned Glavprodukt, following a lengthy court battle. The seizure was justified by the need to ensure food stability in Russia. Meanwhile, Glavprodukt's sales have declined under state management, prompting contemplated export efforts to China and North Korea.
A Moscow court has seized the assets of the U.S.-owned company Glavprodukt, transferring them to Russian state control. The decision was reported late Friday, ending a legal struggle over the company's ownership.
The seizure comes as Russia's relations with the U.S. remain tense. Prosecutors justified the action as necessary for ensuring Russia's food supply stability, although the company has seen declining sales and is considering exports to China and North Korea.
Founder Leonid Smirnov plans to appeal the Russian court's decision, with efforts also underway in American and international courts to challenge the seizure. The case highlights ongoing diplomatic and business tensions between the two countries.
(With inputs from agencies.)
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