Putin transferred a Japanese company's Russian assets under the control of an РФ firm — media
Kyiv • UNN
Russia transferred JTI's stakes in four enterprises to the management of "Industrial Assets." The decision was made without explaining the reasons.
Russian President Vladimir Putin transferred the Russian assets of Japan Tobacco International (JTI) to temporary management. This is evidenced by a decree published on Thursday. Thus, the company became the latest foreign business to lose control over its local operations as part of the Kremlin’s intensifying campaign. Reuters reports, writes UNN.
Details
According to the decree, JTI’s stakes in four Russian enterprises were transferred to the management of the Russian company "Industrial Assets." The document does not specify the reasons for the decision, but the Kremlin has previously linked similar steps to the conduct of countries it calls "unfriendly."
JTI, which is part of Japan’s Japan Tobacco Inc., describes itself as Russia’s largest tobacco-product manufacturer by sales volume. The company did not immediately respond to a request for comment.
The decision came after Russia transferred the assets of Swiss food giant Nestlé, German wholesaler Metro AG, and French retail chain Auchan to temporary management in September.
In October, Moscow assumed control over the Russian assets of four more European companies. It explained its actions by citing European countries’ support for Ukraine and what it called the illegal appropriation of Russian property.
That same month, Russia’s Ministry of Foreign Affairs said it considered the sale of drones to Ukraine by a Japanese company an unfriendly step and warned of a tough response.
Also in October, Russia reported the detention of a Japanese journalist in the Far East, in the Sakhalin Region, on suspicion of espionage. This marked a further deterioration in bilateral relations, which had continued to grow more strained in recent months.
According to the decree, JTI’s stakes in four Russian enterprises were transferred to the management of the Russian company "Industrial Assets." The document does not specify the reasons for the decision, but the Kremlin has previously linked similar steps to the conduct of countries it calls "unfriendly."
JTI, which is part of Japan’s Japan Tobacco Inc., describes itself as Russia’s largest tobacco-product manufacturer by sales volume. The company did not immediately respond to a request for comment.
The decision came after Russia transferred the assets of Swiss food giant Nestlé, German wholesaler Metro AG, and French retail chain Auchan to temporary management in September.
In October, Moscow assumed control over the Russian assets of four more European companies. It explained its actions by citing European countries’ support for Ukraine and what it called the illegal appropriation of Russian property.
In October, Russia’s Ministry of Foreign Affairs said it considered the sale of drones to Ukraine by a Japanese company an unfriendly step and warned of a tough response.
Also last month, Russia reported the detention of a Japanese journalist in the Far East, in the Sakhalin Region, on suspicion of espionage. This marked a further deterioration in bilateral relations, which had continued to grow more strained in recent months.