Tobacco group BAT suspends Russia capital investments, scales again advertising

Signage is seen on the London workplaces of British American Tobacco, in London, Britain, January 15, 2021. REUTERS/Toby Melville

LONDON, March 9 (Reuters) – Camel and Fortunate Strike cigarette maker British American Tobacco Plc (BATS.L) stated on Wednesday its enterprise in Russia continued to function, however that it had suspended all deliberate capital funding within the nation following theUkraine invasion.

BAT, which has 2,500 employees in Russia and main native manufacturing operations, additionally stated it was “scaling our enterprise actions acceptable to the present scenario, together with rationalising our advertising actions.”

The Ukraine disaster has put stress on multinational corporations to take motion, with a rising listing of client merchandise producers distancing themselves from Russia this week. learn extra

BAT’s announcement comes hours after Philip Morris Worldwide Inc (PM.N) suspended its deliberate investments in Russia and stated it will scale down manufacturing within the nation. Smaller London-listed rival Imperial Manufacturers (IMB.L) additionally stated on Wednesday that it had paused operations in Russia. learn extra

Reporting by Richa Naidu
Enhancing by Mark Potter and Jane Merriman

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