Tobacco giants Philip Morris and British American Tobacco remain in Russia
Tobacco giants Philip Morris and British American Tobacco have said they will not leave Russia but will stop investing and PM will start cutting production.
The press services of the companies reported this.
Philip Morris said it had halted all planned investments in Russia, including new product launches and all commercial, innovative, and manufacturing investments.
"PMI has also stepped up plans to reduce its production operations in Russia amid supply chain disruptions and changes in the regulatory environment. We will continue to monitor the situation," the company said.
The company noted that its employees have donated more than $300,000 to support Ukraine, and PMI will double these contributions.
British American Tobacco said it was "deeply concerned about the conflict in Ukraine."
"Our business in Russia continues to operate. We have a responsibility to take care of all our employees at this extremely difficult and uncertain time for them and their families," the tobacco giant wrote.
The company's management has decided to suspend all planned capital investments in Russia.
