Follow-Up: Putin Signs Second Decree Expanding Temporary Administration of Japan Tobacco Businesses in Russia to Seven Companies
MOSCOW — Russian President Vladimir Putin has signed a second decree expanding the list of Japan Tobacco International (JTI) businesses placed under temporary administration in Russia to seven companies. According to a Reuters report on November 7, the decree, signed on November 6 and published overnight, placed stakes in three additional companies under the administration of the Russian company Industrial Assets.
The three additions are all owned by Luxembourg-based JTI Investments Sarl: all shares in Pereslavl-Tabak and all ownership interests in JTI Russia and JTI Innovative Products, which, according to Interfax, act as holding, import, sales and heated-tobacco marketing companies. The first decree, issued on November 5, had already placed four manufacturing businesses, Petro, JTI Donskoy Tabak, JTI Yelets and Kres Neva, under the same administrator. Taken together, the two orders put the main links of JTI's Russian business, from production to sales, in the hands of a Moscow-appointed manager.
Neither decree states a reason. Temporary administration rests on a framework Russia created in April 2023 for assets owned by companies from countries Moscow calls unfriendly: foreign owners keep legal title but lose operational control. JTI employs about 4,000 people in Russia, and the Russian market accounts for roughly a tenth of the group's revenue.
Anton Pivovarov, head of Industrial Assets, told the Russian business daily RBC that the company would seek to maintain production, preserve existing teams and fulfil obligations to employees and business partners. Japan's government protested to Moscow on November 6 over the first decree and demanded its immediate withdrawal; the second decree was published after that protest, and Tokyo's next response remains to be seen.
(Source: Reuters)
Source: Reuters
Published by GSM · USA (original Chinese edition)
Photo: 图：日本烟草国际位于日内瓦的总部大楼（资料图，BiiJii 摄，CC BY-SA 4.0），经 Wikimedia Commons。 / Photo: The Geneva headquarters of Japan Tobacco International (file photo, BiiJii, CC BY-SA 4.0), via Wikimedia Commons.
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