One of the world's largest tobacco multinationals, British American Tobacco, has agreed to pay a $635 million fine for selling cigarettes to North Korea in circumvention of US sanctions.. Reported by the Financial Times.

According to the publication, the corporation, which owns such well-known cigarette brands as Lucky Strike, Dunhill and Pall Mall, delivered goods worth about $30 million to the North Korean Embassy in Singapore..

The company also accepted more than $250 million in cash from sanctions-listed North Korean banks through U.S. financial institutions as payment for indirect cigarette exports to the country..

Against the background of this scandal, the chief executive officer of the corporation, Jack Bowles, announced his resignation.

Bowles is known to have worked at BAT for 20 years.. However, as it turned out, it was during his reign that the corporation violated sanctions against North Korea..

At first, when British American Tobacco (BAT) was ordered to pay a fine a month ago, he stated that he was very sorry about the misconduct. Three weeks later, he announced that he was retiring..

Tadeu Marroko, who previously worked for the corporation as CFO, became the new CEO.