Philip Morris International Inc. (PMI) has announced that it will be suspending its investments and scaling down its manufacturing operations in Russia, according to a company press release.

The company said in its press release that it will halt all planned investments such as new product launches and commercial, innovation, and manufacturing investments in the Russian Federation. It also said that due to current supply chain disruptions and the evolving regulatory environment it would be scaling down its manufacturing operations and would continue to monitor the situation.
PMI said that it would continue to support humanitarian efforts, provide aid and offer all possible support to its employees and the people of Ukraine. According to the press release, PMI has delivered food, medicine and other basic necessities to multiple countries in partnership with NGOs and has also made donations to support international humanitarian efforts.
“We have watched with shock the war in Ukraine and condemn the violence in the strongest possible terms. We stand in solidarity with the innocent men, women, and children who are suffering,” said Jacek Olczak, Chief Executive Officer. “We join the many voices calling for an immediate end to the war and the restoration of peace.”
“Our immediate priority is the safety and security of our more than one thousand employees and their families in Ukraine. We have taken action to achieve three critical missions: helping to evacuate more than 800 people, to date, including from the most impacted areas; providing critical aid to employees who remain in Ukraine; and providing those who have left the country with logistical, medical, financial, and other practical support in neighboring countries. We are continuing to pay salaries to all our Ukrainian employees during this period,” he said.
“Given the situation, the Board of Directors and our Senior Management Team have decided to suspend all our planned investments in Russia and activate plans to scale down our manufacturing operations. We will support our employees in Russia through this period, including by continuing to pay their salaries,” Olczak added.