The Russian president signed a presidential decree provisionally transferring JT International's assets in Russia to a Russian company. The timing of any future return remains unclear.
Russian President Putin (プーチン) was reported to have signed a presidential decree provisionally transferring production facilities and other assets held in Russia by JT International, the subsidiary responsible for Japan Tobacco Inc.'s (JT) international sales, to a Russian company. The transfer is reportedly to be carried out immediately afterward, while the assets' ultimate owner and the timing of any return remain unclear.
The decision is seen as part of Russia's response to Japan over sanctions and is reportedly intended to increase pressure on Japanese companies. It may also affect the business decisions of other Japanese companies with assets in Russia.
According to Russian media, the measure is based on a 2023 presidential decree allowing the assets of companies from unfriendly countries that imposed sanctions on Russia to be provisionally transferred to the Russian side. Data shows that the assets of more than 30 companies from Western countries and elsewhere have been transferred since 2023.