Posted 9 февраля 15:07

Published 9 февраля 15:07

Modified 9 февраля 15:49

Updated 9 февраля 15:49

Manufacturer Marlboro declared the difficulties of leaving Russia

9 февраля 2023, 15:07
Due to market restrictions, the company is unable to sell its assets valued at $2.5 billion.

Philip Morris International, a manufacturer of Marlboro, Parliament, Bond, Chesterfield, L&M, Next, and IQOS sticks, said it constantly evaluates the "developing situation in Russia," including "regulatory restrictions on the market." The latter become the reasons for "very difficult conditions that must be met for the approval by the authorities of any transaction for the alienation of investments, and restrictions arising from international regulations".

As of December 31 last year, the total assets of PMI in the country amounted to about $2.5 billion, excluding intra-group balances. Of these, about $0.6 billion is cash and cash equivalents, stored mainly in rubles.

Last summer, it was reported that British American Tobacco, one of the world's largest tobacco producers, lost 957 million pounds (about $1.2 billion) due to withdrawal from the Russian market.