Russian smoking ban could hit BATS

4th Sep 2012 13:06

Russia's Deputy Health Minister Sergei Velmiakin has today announced that the Russian Federation will submit a law banning smoking in public places by November 1.That despite opposition from some of the world's largest cigarette makers, including British American Tobacco. Western tobacco makers have benefitted greatly from quickly growing demand for their products in emerging markets, as incomes rise and given laxer health regulations than in the West. The Russian Federation is the world's second largest market for tobacco products. As of 13:05 shares of American Tobacco are falling by 1.81% to the 3,273p mark. AB