Putin Seizes Additional Japan Tobacco Units, Raising Total to $3.7 B
Putin expands seizure of Japan Tobacco assets, now controlling seven Russian subsidiaries worth up to $3.7 B. Shares plunge in Tokyo.
POLICY WIRE — Moscow, Russia — Russian President Vladimir Putin signed a decree that extends temporary control over three more Japan Tobacco International subsidiaries, adding to a growing list of foreign‑owned businesses seized in the country.
The order brings the total number of JTI units under Russian administration to seven, with the combined value of the seized assets estimated at up to $3.7 billion.
Japanese market watchers noted that Japan Tobacco Inc. shares fell to the daily limit in Tokyo trading on the day the seizure was announced, reflecting investor concern over the Kremlin’s expanding reach into foreign enterprises.
In response, Japan lodged a formal demand for the return of the assets that Russia has taken, a move that has intensified diplomatic tensions between the two nations.
Reporting by Policy-Wire (PW)