Russia to face rise in tobacco prices

The introduction of new excise duties on cigarettes will result in a rise in prices on tobacco products, a representative of British American Tobacco Russia reported. Prices will rise about 6-9 percent. However, this increase is expected to have no significant impact on either consumers or tobacco producers. The new bill, which sets excises at 50 rubles (about $1.59) per 1,000 cigarettes plus 5 percent of the retail price, was passed by the State Duma last Monday, and it will most likely be approved by the Federation Council.