Putin Places Japan Tobacco's Russian Operations
Russian President Vladimir Putin has signed a decree placing the Russian operations of Japan Tobacco (JT) under the temporary management of a local company, effectively stripping the Japanese tobacco giant of control over its business in the country and prompting a formal protest from Tokyo demanding that the measure be immediately withdrawn. (News On Japan)
Russian President Vladimir Putin has placed the Russian operations of Japan Tobacco under temporary management of a local company, effectively removing Japan Tobacco's control over its Russian business. This decision, which has been described as temporary, comes amid escalating tensions between Japan and Russia. Japan Tobacco, which has been operating in Russia since 1999, has stated that it is carefully assessing the situation and prioritizing the interests of employees and other stakeholders.
Japan has formally protested the measure and demanded its immediate withdrawal, with senior Japanese officials delivering the protest directly to Russian authorities. The move adds to the challenges faced by Japanese companies operating in Russia, where foreign businesses from countries supporting sanctions against Moscow have increasingly faced risks of losing control over their local assets.
Brief written by urgent.news from News On Japan's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
