CANPACK
Coverage of CANPACK in the Nexus archive.
- 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.
- Russia seizes control of US-linked firm as it pushes for renewed ties with Washington
Russia's government seized control of CANPACK's Russian operations through a 2025 decree, transferring 100% ownership to state-appointed managers. The move risks Western companies operating in Russia as Moscow seeks to rebuild economic ties with the U.S., with CANPACK's $700 million Russian business now under state control.