Imperial Brands has become the first tobacco brand to cease trading in Russia, over the country’s invasion of Ukraine.
The tobacco company revealed it is halting production at its Volgograd factory and is ceasing all sales and marketing activity, however, it will be supporting its Russian employees, who will still be paid while operations are paused.
The move follows the company suspending operations in Ukraine in order to “prioritise the safety and wellbeing” of its 600 employees in the country.
According to the company, Russia and Ukraine are relatively small markets in the context of the group.
In total representing around two per cent of net revenues and 0.5 per cent of adjusted operating profit in FY21.