British American Tobacco Plc (BATS.L) is in advanced talks with Russia’s SNS Group of Companies over the possibility of transferring its Russian business, reports Reuters.

Many companies have decided to withdraw operations and investments since Russia launched its invasion of Ukraine. BAT that controls around 25 per cent of the Russian tobacco market has also been looking of ways to transfer its Russia business.
SNS, a BAT distributor since 1993, told Reuters that the transferal of the business was already under way.
"The process of transferring the management of BAT business in Russia to SNS GC is well under way at remarkable speed," a SNS spokesperson said. They also said that the level of production as well as the supply and distribution chain would remain stable with a transfer.
According to Reuters, BAT Chief Marketing Officer Kingsley Wheaton had said that BAT's distributor could be interested in a transfer. He added that exiting the business or stopping sales or manufacturing would be seen as a criminal bankruptcy by Russia with legal consequences.