Coca Cola and Pepsi have announced the cessation of sales of their beverages in Russia. Thus, they became the last major Western companies to limit their activities in the region due to Moscow’s invasion of Ukraine, the agency said.
Coca-Cola said its business in Russia and Ukraine provided about 1-2 percent of the company’s net operating profit in 2021.
“Our hearts are with the people who are suffering from the terrible consequences of these tragic events in Ukraine. We will continue to monitor and analyze the unfolding situation, “the company said.
Pepsi, whose drink was one of the few Western products allowed in the Soviet Union before its collapse, said it would continue to sell essential goods such as milk and baby food in Russia.
Starbucks, the American coffee giant, is also closing down in Russia. This includes suspending imports of any of the company’s products and temporarily shutting down a network of about 130 cafes across the country, Starbucks said, adding that it will take care of about 2,000 people in Russia whose livelihood depends on the company.
Earlier yesterday, McDonald’s also announced that it was temporarily closing all 847 restaurants in Russia.