The key facts
- All seven Russian legal entities of JTI have been placed under the temporary management of JSC Industrial Assets
- The company states that the enterprises continue to operate as usual
- The decree was signed on November 5, with three more assets added on November 6
The enterprises are operating as usual
The Russian assets of the Japanese tobacco company Japan Tobacco International continue to operate despite being placed under temporary management. On November 9, the corporation itself announced this, commenting on changes in the management of its assets in Russia.
How the decision was made
The transfer of assets took place in two stages: on November 5, Russian President Vladimir Putin signed a decree introducing temporary management over four Russian JTI assets, and the next day the restrictions were extended to three more legal entities of the group. As a result, all seven Russian legal entities of Japan Tobacco, including JTI Russia LLC, came under the temporary management of JSC Industrial Assets.
What happened before
Earlier, Life.ru reported that after the enterprises were placed under temporary management, JTI was studying the situation and considering possible options for further action, paying special attention to employees and business partners. The company's new statement effectively answers the question of its immediate actions: there is no talk of ceasing operations for now, and the enterprises are functioning in their normal business mode. The statement does not mention JTI's long-term plans for the Russian market.
