Putin Places Japan Tobacco International's Russian Assets Under Temporary Administration
Moscow — Russian President Vladimir Putin on November 5 signed a decree placing the Russian assets of Japan Tobacco International (JTI) under temporary administration, making the company the latest foreign business to lose control of its local operations in a widening Kremlin crackdown.
The decree placed JTI's stakes in four businesses in Russia under the management of a Russian company called Industrial Assets. It did not provide a reason, but the Kremlin has linked similar moves in the past to the behaviour of countries it designates as hostile. JTI, part of Japan Tobacco Inc. (2914.T), describes itself as Russia's biggest tobacco manufacturer by sales volume. It did not immediately respond to a request for comment. JTI operates four factories in Russia employing about 4,000 people.
The decree follows Russia's decision in September to place the assets of Swiss food giant Nestle, German wholesaler Metro AG and French retailer Auchan under temporary management, and its move in October to take control of the Russian assets of four more European companies, citing European support for Ukraine and what it called illegal expropriations of Russian property.
Relations between Moscow and Tokyo have worsened in recent months. Russia's Foreign Ministry said in October that it considered a drone sale to Ukraine by a Japanese company to be a hostile step and warned of a harsh response. Russia also said last month it had detained a Japanese journalist in its far eastern Sakhalin region on suspicion of espionage, marking a new low in bilateral relations.
Source: Reuters
Published by GSM · USA (original Chinese edition)
Photo: 图：从莫斯科河上望向克里姆林宫。普京11月5日签署总统令，将日本烟草国际在俄资产置于临时接管之下。照片：Максим Улитин，CC BY 3.0，经 Wikimedia Commons。 / Photo: The Kremlin seen from the Moskva River. Photo by Maxim Ulitin, CC BY 3.0, via Wikimedia Commons.
