Putin seizes Russian operations of cigarette giant Japan Tobacco International

Russian President Vladimir Putin has ordered the transfer of Japan Tobacco International's (JTI) operations to a state-linked holding company, affecting four factories and around 4,000 employees. This move is part of a broader trend where foreign companies, including Nestlé and Auchan, have had their Russian assets seized under state control. JTI, which holds a significant share of the Russian cigarette market, has been operating in Russia since 1999 and has invested heavily in its operations. The seizure follows tensions between Russia and Japan, particularly after the arrest of a Japanese journalist on espionage charges. Moscow's actions are framed as responses to Western sanctions imposed after the invasion of Ukraine, with the potential for future nationalization of Russian assets abroad.