Local media reported that the assets and management rights of Japan Tobacco (JT) in Russia changed from JT to a Russian company, with plans for former government agency officials to run the business, in a move that was carefully prepared.
Russia’s RBC, an economic news outlet, reported comments by Anton Pivovarov, president of Industrial Asset, the company that took over management of JT’s Russian assets. Pivovarov previously served as a senior official at an agency under the Russian Ministry of Defense. He reportedly indicated a policy of “strictly complying with the presidential decree and Russian law and ensuring stable business operations,” clarifying the Russian side’s intention to continue operating the business.
The company was only established in September this year, and its registered address is reportedly a room in an apartment building in Moscow. In connection with this, independent media reported that the company’s sole shareholder is a former FSB employee from Crimea, prompting the view that the Russian side made thorough preparations for the transfer by leveraging former government officials.