Kremlin Seizes Japan Tobacco International’s Russian Assets

Nov. 5, 2026 pexels President Vladimir Putin signed an executive order on Thursday that places the Russian assets of Japan Tobacco International (JTI) under “temporary management” of the state. The order lists a company called Industrial Assets as the temporary manager of four JTI corporate entities in Russia. Independent media reported that multiple Russian companies carry the name Industrial Assets, including those involved with previous asset seizures. The Industrial Assets taking control of JTI was reportedly registered on Sept. 16 and is owned by former Kursk region FSB security service officer Sergei Dremov. Operating in Russia since 1999, JTI holds a market share of up to 40%, built on brands such as Winston, Camel, Sobranie and LD. JTI’s nationalization follows a wave of asset seizures this fall targeting major Western companies in Russia, including German wholesaler Metro, French retailer Auchan, Swiss food giant Nestlé and logistics operator FM Logistic. Putin has defended the moves as a symmetrical response to Western sanctions and the freezing of Russian state assets there. He said control of the seized Russian subsidiaries could be returned under favorable conditions. The move against JTI also comes amid a sharp deterioration of relations between Japan and Russia. Some analysts say Moscow is seeking to punish Tokyo for its growing support of Ukraine and decision to join G7 sanctions over the full-scale invasion. In October, Russia’s FSB arrested Japanese journalist Yuki Imai of the Hokkaido Shimbun newspaper on accusations of espionage, which both his employer and the Japanese government deny. AFP contributed reporting. Read more about: Japan , Business Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Japanese Officials Meet Russian Counterparts Over Corporate Assets – Bloomberg Japanese officials also attended an event involving Russian energy, metals and fertilizer companies. 2 Min read Mazda Becomes First Foreign Automaker to Lose Russian Joint Venture Buyback Rights The Japanese automaker had sold its 50% stake in the Mazda Sollers Manufacturing RUS joint venture with an option to buy back the assets within three years... 1 Min read Russia Bans Entry of Top Japanese Business Execs The ban list includes Toyota chairman Akio Toyoda and Rakuten chief Hiroshi Mikitani, among others. 1 Min read Japan Tobacco Adjusts Supply Chains to Keep Russian Business, CEO Says Masamichi Terabatake said his company is working carefully to not run afoul of sanctions, but added that “otherwise, it’s business as usual.” 2 Min read