Tobacco group BAT suspends capital investments in Russia and reduces marketing

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

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LONDON, March 9 (Reuters) – Camel and Lucky Strike cigarette maker British American Tobacco Plc (BATS.L) said on Wednesday its business in Russia was continuing to operate but had suspended all planned capital investment in the country after the invasion of Ukraine.

BAT, which has 2,500 workers in Russia and significant local manufacturing operations, also said it was “adapting our business operations to the current situation, including streamlining our marketing activities.”

The Ukraine crisis has spurred multinationals to act, with a growing list of consumer product makers turning away from Russia this week. Read more

BAT’s announcement comes hours after Philip Morris International Inc (PM.N) suspended planned investments in Russia and said it would reduce manufacturing in the country. Imperial Brands (IMB.L), a smaller London-listed rival, also said on Wednesday it had suspended operations in Russia. Read more

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Reporting by Richa Naidu Editing by Mark Potter and Jane Merriman

Our standards: The Thomson Reuters Trust Principles.

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