Russia Presidential Decree 710 places Silgan's Russian metal-packaging subsidiary (Vonorus LLC) under Rosimushchestvo temporary administration

Mechanism

Decree No. 302 (25 April 2023), "On temporary management of certain property," is Russia's standing legal instrument for placing Russian-based property of companies from "unfriendly" jurisdictions under Rosimushchestvo (Federal Agency for State Property Management) administration. It operates by an ever-growing schedule/annex: the President periodically signs a short amending decree that adds specific named companies' shares or assets to the list. Decree No. 710 is one such routine amendment — it adds "100 percent of the shares in the authorized capital of Vonorus LLC belonging to Silgan Metal Packaging Mitterdorf GmbH" to the Decree 302 schedule. Vonorus LLC is the Russian manufacturing subsidiary of Silgan's European metal-packaging business (headquartered in Mitterdorf, Austria), itself owned by US-listed Silgan Holdings Inc.

Placement on the Decree 302 list transfers day-to-day control of the company to a state-appointed external manager, effectively expropriating operational and economic control from the foreign parent while leaving formal share ownership nominally unchanged (pending any later disposal under the fast-track sale mechanism created by Decree No. 693 of 30 September 2025 — filed as 2025-09-30-russia-decree-693-federal-property-fast-track-sale).

Downstream implications

• Adds a US-linked (NYSE: SLGN) industrial asset to the growing Decree 302

roster, alongside prior additions such as Renault SAS's parallel listing under the separate Resolution 851 special-economic-measures regime (2025-10-06-russia-resolution-1545-renault-special-economic-measures, same signing date).

• Reinforces the pattern in which Western manufacturers with residual

Russian operations after 2022 face a two-stage risk: first temporary administration (loss of control), then potential fast-track liquidation to a state-directed buyer under Decree 693.

• No public indication yet that Silgan pursued a formal divestment/exit

before the seizure — distinguishes this from cases where Western firms proactively sold Russian units to local buyers.

Open questions

• Whether Silgan Holdings disclosed the Vonorus loss in SEC filings and

what balance-sheet impact (impairment) it recorded.

• Whether Vonorus/the Mitterdorf plant's output was ultimately transferred

to a Russian buyer under the Decree 693 fast-track sale mechanism, and to whom.