Moscow has moved to take control of Japan Tobacco's Russian operations, prompting a swift diplomatic protest from Tokyo.
Russian authorities seized the local factories and business subsidiaries of Japan Tobacco International (JTI), one of the largest international tobacco companies operating in the country. The state takeover follows a decree issued by Russian leadership targeting foreign-owned corporate assets.
The action has drawn sharp criticism from the Japanese government, which formally protested the expropriation of its corporate holdings. Observers and analysts are now closely watching to see whether Tokyo will implement retaliatory economic measures following the asset seizure.
