Big Tobacco appears to be in no hurry to pull out of Russia over Ukraine invasion

Global tobacco majors are not hurrying to leave the Russian market and suffer the multi-billion dollar losses that might potentially be associated with such an exodus.

All the global producers announced their intention to pull out of Russia last year following the country’s invasion of Ukraine, but so far only one, Imperial Brands, has made good on that promise. Most of them still hope to quit Russia in such a way that they either retain control of their Russian business or can return at the first opportunity.