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  March 24 (Reuters) - Marlboro maker Philip Morris
  International Inc is working on options to exit the Russian market, citing a complex and rapidly
  changing regulatory and operating environment in the country following its invasion of Ukraine.
  
  
  
  The company, which garnered around 6% its net revenue from Russia in 2021,
  said on Thursday it has discontinued sale of several cigarette products and canceled all product launches for the year
  in Russia.
  
  It has also canceled plans to make over 20 billion TEREA sticks, heated tobacco units intended
  for use with its IQOS ILUMA devices, as well as related
  investment of $150 million.
  
  Earlier this month, Philip Morris had suspended its planned investments and decided to scale down manufacturing operations in the country.
  
  
  Rival Imperial Brands too has started talks to transfer its Russian business
  to a local third party, joining BAT in exiting the sanction-hit
  country. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Aditya Soni and Arun Koyyur)
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