Russian President Vladimir Putin placed the Russian assets of Japan Tobacco International (JTI) under temporary administration, transferring control of its stakes in four local businesses to Russian company Industrial Assets. The Nov. 5 decree did not provide a reason for the move. JTI, part of Japan Tobacco Inc., is Russia’s largest tobacco manufacturer by sales volume. The company did not immediately comment.
The move follows similar actions against foreign companies, including Nestlé, Metro AG, and Auchan, whose Russian assets were placed under temporary management in September. Moscow has increasingly used the measures against companies from countries it considers unfriendly because of sanctions imposed over the war in Ukraine. The decision also comes amid deteriorating relations between Russia and Japan, including Russia’s recent detention of a Japanese journalist on espionage allegations, which Tokyo has denied.
