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Marlboro maker Philip Morris working on options to exit Russia market -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Marlboro cigarettes on display at Somerville convenience store, Massachusetts. July 17, 2014. Philip Morris International Inc. has lowered its 2014 earnings estimates and stated that it was proving difficult.

(Reuters) – Marlboro manufacturer Philip Morris International Inc (NYSE 🙂 stated on Thursday that it is exploring options for exiting the Russian market following Moscow’s invasion in Ukraine.

According to the cigarette manufacturer, Russia accounted for around 6% in its total net revenue in 2021. It also announced that it has discontinued certain cigarette products in Russia and cancelled all planned product launches in Russia for 2022.

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