A post by @FirstSquawk on X.

Japan Tobacco’s Russian assets have been placed under local management after a move by President Vladimir Putin, according to Kyodo. The shift affects the Japanese tobacco group’s operations in Russia, where it has maintained a manufacturing and sales presence. The change follows Russia’s broader pattern of placing foreign-owned assets under temporary local administration. It matters because it adds another layer of uncertainty for foreign companies still operating in Russia. What to watch next is whether the arrangement remains temporary and how it affects Japan Tobacco’s reported results and asset values.