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Philip Morris Plans to Exit Russia After Outcry Over War

  • Marlboro maker says it’s working on options for orderly exit
  • Russia is one of the best performing markets for IQOS product
Updated on

Philip Morris International Inc. said it’s working on options for leaving the Russian market, joining scores of multinationals that are scaling back operations in the country after its invasion of Ukraine.

The maker of Marlboro cigarettes said Thursday it intends to leave and is considering ways to do so in an orderly fashion because it’s become too complex to do business there. The stock rose as much as 1.5%, having lost a tenth of its value in the past month.