Putin Adds Three JTI Companies to Russian Administration

Russian President Vladimir Putin has added three more Japan Tobacco International (JTI) companies to the list of businesses placed under temporary administration in Russia. This expansion follows an initial order issued on Thursday, which transferred control of JTI's Russian assets to a domestic entity.

The original decree, signed by Putin, placed the stakes in four JTI businesses under the management of Russian company Industrial Assets. This move marks another step in Moscow's strategy to assert control over foreign-owned assets within the country.

Putin's actions did not specify a reason for the asset seizure, but the Kremlin has previously justified similar measures by citing actions from countries deemed hostile to Russia. This latest decision aligns with broader efforts to tighten control over foreign enterprises operating in Russia.