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Putin places Japan Tobacco’s Russian assets under temporary management

In particular, the stakes in Donskoy Tabak, Pereslavl-Tabak, JTI Yelets, and Kres Neva are being transferred to external management

MOSCOW, November 5. /TASS/. Russian President Vladimir Putin has signed a decree transferring the stakes held by international tobacco conglomerate Japan Tobacco Inc. (JTI) in Russian manufacturing facilities to the temporary management of JSC Industrial Assets. The document was published on Russia’s official legal information portal.

Specifically, the stakes in Donskoy Tabak, Pereslavl-Tabak, JTI Yelets, and Kres Neva are being transferred to external management.

JTI, one-third of which is owned by the Japanese government, is the world’s third-largest tobacco manufacturer and has operated in Russia since 1999. The company has become the country’s largest tobacco manufacturer. JTI’s product portfolio includes the international cigarette brands Winston, Mevius, Camel, Sobranie, Glamour, and LD, as well as the Russian brands Russky Stil, Petr I, and Troika.

The Russian presidential decree "On the Temporary Management of Certain Property," adopted in April 2023, established a mechanism for the temporary management of assets belonging to entities from unfriendly countries in response to the seizure of assets or restrictions on the property rights of Russian owners abroad.

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