Philip Morris International Inc. said Wednesday it is suspending all investment in Russia following its invasion of neighboring Ukraine, joining a growing list of companies to follow that path. The company said it is also activating plans to scale back manufacturing in Russia, “amid ongoing supply chain disruptions and the evolving regulatory environment.” “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 Chief Executive Jacek Olczak in a statement. Shares were flat premarket but are up 8% in the last 12 months, while the S&P 500 has gained 7.6%.
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