Tokyo, Nov. 7 (Jiji Press)--Russian President Vladimir Putin on Friday signed an additional order for assets held by Japan Tobacco Inc. in Russia to be placed under the temporary management of a Russian company.
The assets targeted by the new order include shares and other holdings of three nonmanufacturing companies.
The latest order came after Putin signed a similar order on Thursday placing four Japan Tobacco manufacturing entities in Russia under the management of the same Russian company.
In its online edition published on Thursday, Russian newspaper Kommersant said that the Russian company may have links to an individual close to the Putin administration.
Russia set up the temporary management system for foreign firms' assets in 2023 in response to freezes on Russian assets imposed over its invasion of Ukraine by Western and other countries designated by Moscow as "unfriendly." While companies under management by the Russian side will retain ownership of the assets, they effectively lose management rights.
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