British American Tobacco Says It Is Exiting Its Russian Business

British American Tobacco said on Friday that it was exiting its Russian business, just two days after it had said it planned to continue operations but end capital investments.

The company, whose products include Lucky Strike, Pall Mall and Dunhill cigarettes, said it had begun a process “to rapidly transfer” its Russian business. It said it would continue to pay its 2,500 employees in the country for now, but once the transfer is complete, it will “no longer have a presence in Russia,” it said.

“We have concluded that BAT’s ownership of the business in Russia is no longer sustainable in the current environment,” the company, which is based in London, said in a statement on Friday.

The decision follows a slew of announcements by American and European companies, including banks, retailers and fast food restaurants, that they will suspend or end their operations in Russia in response to the war in Ukraine and the economic sanctions imposed by the West. Companies that initially intended to continue their business in Russia have faced increasing public pressure, which has led to some U-turns, including by the parent company of the Japanese clothes retailer Uniqlo.

Article source: https://www.nytimes.com/2022/03/11/business/british-american-tobacco-russia.html