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. Last Updated: 07/27/2016

Cigarette Duties Cut

MOSCOW -- Russia has slashed excise duties on cigarettes produced by joint ventures under Western license to 20 percent from 50, Interfax said Wednesday. The new duties, effective immediately, also apply to high-quality local brands, the agency said. Western cigarette makers are buying into outdated tobacco plants in Russia, which accounts for the bulk of the vast former Soviet market estimated at 430 billion cigarettes annually.