Putin seizes Japan Tobacco's Russian factories under state control
Briefing by News4U · First published
Russian President Vladimir Putin on Thursday placed Japan Tobacco International's (JTI) Russian operations under state control, ordering their transfer by decree to state-linked holding company AO Promyshlennye aktivy. The order covers factories in St Petersburg, Rostov-on-Don, the Lipetsk region and the Leningrad region. Euronews reported that JTI employs around 4,000 people in Russia and holds roughly 40% of the Russian cigarette market, making it the country's largest manufacturer. JTI joins Nestlé, Auchan, Leroy Merlin and Metro among foreign firms whose Russian assets have been put under external management. [1]
Sources
- Putin seizes Russian operations of cigarette giant Japan Tobacco International
Euronews World · · Full text