British American Tobacco has finalized its exit from Russia about 18 months after it pledged to do so in the wake of Moscow's invasion of Ukraine.
However, other global tobacco giants are still doing business in the country, including Japan Tobacco International and Philip Morris International .
London-based BAT is a key player in the global tobacco market with business operations in more than 100 countries.
It controlled nearly 25% of Russia's tobacco market, which is the fourth largest in the world, according to Reuters.
The buyer is a consortium led by members of BAT Russia's management team, which will wholly own the Russian and Belarusian businesses, BAT said.
Persons:
Philip Morris
Organizations:
British, Tobacco, BAT, Japan Tobacco International, Philip, Philip Morris International . London, Camel, Reuters, BAT Russia's, ITMS
Locations:
Russia, Ukraine, Belarus, Newport, Russian