"Philip Morris International today announces the suspension of planned investments in the Russian Federation, including the launch of all new products, as well as investments in commercial, innovation and manufacturing activities," the statement said.
As noted, "PMI has also stepped up its plans to reduce the volume of manufacturing activity in Russia amid continued disruptions in the supply chain and a changing regulatory framework."
Earlier, Victoria's Secret announced the temporary suspension of the online store and all retail chain stores in Russia.
In addition, Yum!
Brands, which owns KFC, has decided to suspend the operation of its restaurants in Russia.