Russia’s takeover of a US-linked firm is raising fresh concerns for global investors.
Russia has seized control of the Russian operations of CANPACK, a US-linked company, under a government decree signed by Vladimir Putin. The move places the firm’s assets under “external administration,” effectively transferring full control to state-appointed managers.
The Russia CANPACK takeover affects a business valued at roughly $700 million. Company CEO Peter Giorgi said the firm lost all operational authority after administrators took over in January 2026. Executives were removed, and communication with the Russian division has since been cut off.
Authorities used a legal framework introduced in 2023 that allows the Russian state to take temporary control of foreign-owned assets.
Analysts say this reflects a broader strategy to increase state influence over key industries. Several Western companies, including Danone and Carlsberg, have faced similar actions in recent years.
The Russia CANPACK takeover comes as Moscow signals interest in rebuilding economic ties with the United States. Kirill Dmitriev is reportedly in Washington for talks on potential cooperation and a Ukraine peace deal, highlighting the complex balance between geopolitical tensions and economic engagement.
CANPACK had operated in Russia for nearly 30 years and held a significant share of the local beverage can market. The company said it had considered exiting after the Ukraine war began but could not find a viable buyer.
The Russia CANPACK takeover underscores growing risks for foreign companies operating in Russia, even as diplomatic efforts continue.
