Philip Morris Suspends Investment In Russia

• Cigarette maker Philip Morris International Inc (NYSE:PM) is the latest joiner in the list of multinationals stepping back from Russia.
• Nestle SA (OTC:NSRGY) and Imperial Brands PLC (OTC:IMBBY) have also joined the list of companies giving in to pressure from consumers to take a stand against the war in Ukraine, Reuters reported.
• Consumer goods giants including Proctor & Gamble Co (NYSE:PG) and Unilever Plc (NYSE:UL) have halted investments in Russia.
• Coca-Cola Co (NYSE:KO), PepsiCo Inc (NASDAQ:PEP), and McDonald's Corp (NYSE:MCD) are the big names in the consumer food industry to pull back from the country.
• The report cited Andrei Turchak, secretary of the ruling United Russia party's general council, warning that the country could nationalize idled foreign assets.
• The report quoted Turchak, saying, "We will take tough retaliatory measures, acting in accordance with the laws of war."
• Price Action: PM shares traded higher by 0.30% at $94.26 on the last check Wednesday.