President Putin signed a presidential decree placing Japan Tobacco's Russian business under temporary administration. As a result, the future management structure of JT International's Russian business will come under government supervision.
Russian President Putin signed a presidential decree placing JT International's Russian business under the temporary administration of a Russian company. Specifically, the decree applies to the operations of JT's Russian subsidiary, which oversees Japan Tobacco's global tobacco business.
The move places the organisational structure of JT's Russian business under government supervision, meaning that part of the company's overseas operations will be run under state control.
JT's Russian business accounts for approximately 10% of sales in Russia's tobacco market and is considered the market leader there.