Russia temporarily manages the assets of Japan Tobacco subsidiary Japanese media: It may be to pressure Japan to relax sanctions

(Central News Agency, Tokyo, 7th, comprehensive foreign news report) Russian President Putin announced on the 5th that the assets of Japan Tobacco's subsidiaries in Russia will be handed over to "temporary management". Japanese media believe that this move may be to put pressure on Japan, which continues to impose sanctions on Russia, and win Japan to relax sanctions.

Japan's "Yomiuri Shimbun" reported that Russia may also use this to increase pressure on Japan in an attempt to stop Japan from aiding Ukraine.

In 2023, Russia implemented an asset "temporary management" system in response to U.S. and European sanctions against Russia. According to the Russian state-run TASS news agency, as of late September, more than 130 factories and other assets in Russia have been placed under temporary management.

Russian economic media RBC pointed out that a total of 34 foreign companies have been targeted by this measure so far, and this year there are 17 companies, including Swiss food giant Nestlé and French retail giant Auchan, accounting for half of the total. This is the first time Japan Tobacco has been listed as a target.

Vladimir Putin said at a meeting on October 1: "If there is a plundering of our companies (such as nationalization), we are ready to take countermeasures." It is believed that he may have in mind Russia's assets frozen by Europe.

Russia took this measure against JT International, a subsidiary of Japan's tobacco industry, at a time when relations between Japan and Russia have deteriorated due to Putin's visit to Etortu Island in the Southern Kurils.

At the same meeting on October 1, Putin said that "we are supporting their activities" when talking about Japanese companies that continue to operate in Russia. However, the Japanese government agreed to add new sanctions against Russia at a cabinet meeting on October 2, the day after the meeting.

There are also views that the temporary management system is designed to prevent foreign companies from withdrawing from Russia or laying off local employees. Recently, however, companies that continue to operate in Russia have also become targets. "The outlook has become more unpredictable," said a Japanese company official.

The electronic version of Russia's "Kommersant" reported on the 5th that the person responsible for the temporary management of JT International's assets may be a related company owned by the founder of Russian beer manufacturer Baltika.

In addition, the Russian army attacked the JT International factory in central Ukraine from September to October. Although the factory has ceased operations, the Russian Ministry of Defense still unilaterally claims that the factory once produced ammunition for small arms.