The key facts
- 100% of the shares of Petro LLC (a JTI structure) have been transferred to the temporary management of Industrial Assets JSC
- The decree was published on the official legal information portal
- This continues a series of transfers of foreign assets to temporary management, including Tarkett
What the president decided
Russian President Vladimir Putin signed a decree under which 100% of the shares in the charter capital of Petro LLC, owned by JTI Investments Sarl (a structure of the international tobacco group Japan Tobacco International), are transferred to the temporary management of Industrial Assets JSC. The document was published on the official legal information portal, as reported by Life.ru.
What assets are involved
Petro LLC is linked to one of Russia's largest tobacco factories, located in St. Petersburg. The enterprise is part of the JTI structure, which produces cigarettes under the Winston, Camel, LD and other brands. At the same time, as Life.ru emphasizes, the decree concerns the shares of a specific legal entity — Petro LLC — and the cited part of the document does not mention the transfer of all Russian enterprises of the tobacco group.
Context: a series of asset transfers
This is not the first such decision: earlier, according to Life.ru, Putin transferred the Russian assets of the French flooring manufacturer Tarkett to the temporary management of the company Tsentr Kapital — the decree of October 15 affected the shares of Tarkett Sommer LLC, shares of Tarkett Rus and other assets of the group. Russian enterprises of foreign manufacturers of packaging and personal hygiene products have also been placed under temporary management. The news about JTI fits into this sequence of decisions concerning the Russian assets of foreign companies.
