Russia places Japan Tobacco International's Russian operations under state control
Russian President Vladimir Putin has placed Japan Tobacco International's operations in Russia under state control, ordering their transfer by decree to a state-linked holding company. The move affects one of the country's largest cigarette producers and covers factories in St Petersburg, Rostov-on-Don, the Lipetsk region and the Leningrad region. It marks a significant seizure of foreign corporate assets in Russia at a time of continuing tensions with countries that have imposed sanctions over the war in Ukraine.The decree transfers the business to AO Promyshlennye aktivy, according to the supporting material. JTI employs around 4,000 people in Russia and holds roughly... [Continue Reading]
360LiveNews | 05 Nov 2026 16:30 LONDON
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