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US-owned company ceased feeding Russia, plans to supply China and North Korea instead: Report
RUSSIA, JUL 10 – Glavprodukt's local sales plunged after Kremlin seizure, prompting state managers to target exports to China, North Korea, and other regions amid ongoing financial losses, Reuters reports.
- The U.S.-owned canned food producer Glavprodukt was seized by Russia in October 2024 and placed under state management to secure domestic food supplies.
- Russia justified the takeover as strategic, claiming Glavprodukt was vital to food security, while founder Leonid Smirnov called it a hostile takeover.
- Since the takeover, Glavprodukt’s domestic sales dropped sharply though production remained stable, causing warehouse overcrowding and prompting plans to expand exports.
- The new leadership aims to expand exports toward markets including China, North Korea, regions in the Middle East, and Africa, though initial shipments have encountered delays, with China representing roughly one percent of sales last year.
- Glavprodukt’s continued financial losses and delayed export progress highlight challenges under state control amid tense U.S.-Russia relations and a stalled diplomatic reset.
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Exclusive: US-owned company seized to feed Russia planning to supply China, North Korea instead
A U.S.-owned canned food company seized by Russia to safeguard domestic food supplies is planning to boost dwindling sales with exports to China and North Korea, according to documents reviewed by Reuters and people familiar with the matter.
·United Kingdom
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Coverage Details
Total News Sources4
Leaning Left2Leaning Right0Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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