British American Tobacco halts Russia sales

British American Tobacco has announced it will pull out of Russia, Report informs referring to Bloomberg.

“Building on our announcement of 9 March 2022, we have now completed the review of our presence in Russia,” said BAT. “The context is highly complex, exceptionally fast-moving and volatile.”

“We have concluded that BAT’s ownership of the business in Russia is no longer sustainable in the current environment. Today, we have initiated the process to rapidly transfer our Russian business in full compliance with international and local laws. Beyond continuing to pay our 2,500 employees, we will do our utmost to safeguard their future employment. Upon completion, BAT will no longer have a presence in Russia.”