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One of the largest tobacco companies in the world leaves the Russian market
Tobacco manufacturer British American Tobacco is shutting down in Russia. This is stated in the press release of the company.
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BAT has initiated the process of transferring business in Russia by international and local law, the company said. Following this process, BAT will no longer be available on the Russian market.
The company said its ownership of Russian business "is not sustainable in the current environment"
According to the financial reports of 2021, Russia and Ukraine accounted for 3% of the group's revenue and slightly less than 3% of the adjusted operating profit.
In Russia, BAT owns a tobacco factory in St. Petersburg. The portfolio of brands includes brands Dunhill, Kent, Vogue, Rothmans, Lucky Strike, and others. The company also manufactures sticks for its Glo heating tobacco systems.
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