Philip Morris plans to leave Russia

Philip Morris International, one of the world's largest manufacturers of tobacco products, plans to leave the Russian market. 

This should happen before the end of 2022, Jacek Olczak Jacek Olczak, head of the company, said in an interview with Bloomberg. 

“We are working hard to complete our presence in Russia, but I don't think it will happen within the next quarter. This could be completed around the end of the year,” he said.

Olczak noted that we are talking about a "rather complex process."

The Russian market brought the company 6% of total revenue last year.