The Russian assets of Japanese tobacco company JTI have been transferred to temporary management

Russian President Vladimir Putin placed the Russian assets of Japan Tobacco International (JTI) under the temporary management of Promyshlennye Aktivy, a Russian company, according to a decree reported by Reuters. The move follows similar transfers of foreign-owned assets in Russia, including those of Danone and Carlsberg, as Moscow tightens control over Western holdings. JTI, whose brands include Winston and Camel, has operated in Russia for decades and its local business is one of the largest in the country. The decree did not specify the value of the assets affected or whether ownership changes hands. Investors will watch whether the temporary arrangement becomes permanent and whether other foreign consumer-goods companies face similar action.