Russia seizes control of US-linked firm as it pushes for renewed ties with Washington

Russia's Kremlin ordered the seizure of CANPACK's Russian operations, valued at $700 million, under a 2025 decree, transferring full control to state-appointed managers. The Pennsylvania-based holding company lost operational authority, with executives removed and no restoration of control as of April. This move reflects Russia's broader strategy to reassert control over foreign assets amid efforts to rebuild economic ties with the U.S.