Philip Morris International announced the concrete steps it has taken to suspend planned investments in russia

Philip Morris International revealed steps taken to suspend planned investments in russia

One of the largest manufacturers of tobacco products in the world – Philip Morris International – announces the concrete steps it has taken to suspend planned investments and scale down its manufacturing operations in russia. In particular, PMI has:

✖ Discontinued a number of its cigarette products offered in the market and is reducing its manufacturing activities accordingly
✖ Suspended marketing activities in the country
✖ Canceled all product launches planned for 2022 in russia
✖ Canceled its plans to manufacture more than 20 billion TEREA sticks in russia and the related ongoing investment of USD 150 million

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“Our clients Phillip Morris International and a number of other well-known international brands have announced the suspension of investment plans and a decrease in business activity in russia. We hope that the next step is the complete cessation of any economic activity in the aggressor country, which does not recognize the norms of international law and considers it appropriate to use weapons even against civilians,” said Sergiy Tsivkach, UkraineInvest Executive Director.

📌 The UkraineInvest team is currently working with companies that have decided to completely withdraw from russia, offering them production sites and the necessary support for relocation in Ukraine.

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