President Putin signed a presidential decree placing JT's Russian business under temporary administration, including its overseas subsidiary JT International. JT says it plans to examine the situation and the options available going forward.
Russian President Vladimir Putin is reported to have signed a presidential decree placing JT's Russian business under temporary administration. The entity expected to be covered is JT International, JT's overseas subsidiary.
Under the measure, JT's Russian business will be placed under the temporary administration of a Russian company, making the way in which the overseas subsidiary's operating structure will transition the focus of attention. Further reports are awaited on the specific operating policy and the scope of the impact.
JT said it plans to examine the situation and the options available going forward, and will consider its response as circumstances change.