UK-listed tobacco firm Imperial Brands halts Russian operations

(Reuters) – Imperial Brands Plc has suspended all operations in Russia, following international sanctions against the country in response to Moscow’s invasion of Ukraine, the maker of Winston cigarettes and Backwoods cigars said on Wednesday.

The London-listed company said it was halting production at its factory in Volgograd and all sales and marketing activities in the country.

“This decision comes amid a highly challenging environment in Russia as a result of international sanctions and consequential severe disruption,” Imperial Brands said.

The British company, which has already suspended its operations in Ukraine, also said it will be supporting its Russian employees, who continue to be paid while operations are paused.

Russia and Ukraine together represented about 2% of the group’s net revenue and 0.5% of adjusted operating profit in full year 2021.

(Reporting by Shanima A in Bengaluru; Editing by Shinjini Ganguli)