Russia effectively seized local assets of JT International. Reports said that 3 Russian subsidiaries were additionally seized on the 8th, with observers pointing to the context of support for Ukraine.
Russia is said to have effectively seized Russian assets held by JT International (JTI). The initial seizure was based on Russian Presidential Decree No. 817, and the assets of 4 companies were reportedly targeted. Reports said that 3 more Russian subsidiaries of JS were seized on the 8th.
The analysis reportedly suggests that this was part of Russia’s strategy toward Japan over its support for Ukraine. Others have pointed to Russia’s designation in October of a Japanese company’s drone sales to Ukraine as a “hostile act” as the trigger.
JT has strengthened its overseas operations in response to the decline in the number of smokers in Japan. In Russia, it is described as having the characteristics of a company with strong government affiliations and under the jurisdiction of the Ministry of Finance. It is reportedly still continuing its manufacturing and sales activities in Russia.