Putin Orders Seizure of U.S. Packaging Maker’s Russian Plant
Aptar Vladimir was transferred to H&N, which took control of Danone’s Russian operations during a similar asset seizure in 2023.
Russian President Vladimir Putin issued an executive order on Monday, seizing the Russian subsidiary of U.S. packaging manufacturer AptarGroup under temporary government control. The subsidiary, known as Aptar Vladimir, is now under the jurisdiction of H&N, which had previously seized French dairy giant Danone's Russian assets in 2023.
This marks at least the fifth major Western company targeted by the Kremlin in less than a week. Other companies targeted include French supermarket chain Auchan, Swiss food giant Nestlé, home improvement retailer Lemana PRO, and logistics operators FM Logistics and Bati Logistics. The newspaper Kommersant estimated the seized assets to be worth at least 600 billion rubles ($7.14 billion).
Russia has justified these expropriations as retaliation for "unfriendly" actions by Western countries, including sanctions and support for Ukraine. The seizures have targeted at least 30 foreign companies since Russia's 2022 invasion of Ukraine, with an estimated pre-takeover value of seized foreign assets at $74 billion and total losses for foreign companies reaching $170 billion.
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