Russia seizes Japan Tobacco assets
Russian President Vladimir Putin signed a decree to temporarily seize Japan Tobacco assets. Tokyo strongly protested the move through diplomatic channels as relations strain further.
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Russia seized control of four local businesses belonging to JAPAN TOBACCO INC, placing them under state administration on Thursday. The move marks the latest expropriation of foreign assets in Russia amid escalating diplomatic tensions with Japan. The seized units account for 10% of the parent group's revenue and 25% of its operating profit.
