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International Companies Walk Out of Russia

International Companies Walk Out of Russia

International Companies Walk Out

International companies walk out of Russia as a protest to the ongoing war in Ukraine. Heineken, Carlsberg, and Universal Music group are the latest to join the mass exodus of companies. A few days ago, Coca-Cola, Pepsi, Mcdonalds, and Starbucks have closed operations in Russia. Ferrari has also announced the suspension of deliveries to Russia.

Dutch Brewer Heineken, the second-largest beer manufacturer said it was stopping the production, sale, and advertising of its Russian brand. This is “in response to the continued escalation of the war”. They have also suspended exports and investments in Russia.

“We are shocked and saddened to watch the tragedy in Ukraine unfold,” Heineken chief executive Dolf van den Brink said. “The Russian government’s war against Ukraine is an unprovoked and completely unjustified attack.”

Danish Brewer Carlsberg, the fourth largest beer producer also halted operations in Russia. They said that, during the humanitarian crisis in Ukraine, any profits generated by its business in Russia would be donated to relief organizations.

Universal Music Group also announced “We urge an end to the violence in Ukraine as soon as possible,” Universal said in a statement.

“We are adhering to international sanctions and, along with our employees and artists, have been working with groups from a range of countries… to support humanitarian relief efforts to bring urgent aid to refugees in the region,” it said.

Coca Cola, Pepsi, and Starbucks

Coke, among the first to withdraw announced their exit from Russia in a statement. “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coke said in a brief statement Tuesday afternoon. “We will continue to monitor and assess the situation as circumstances evolve.”

“As a food and beverage company, now more than ever we must stay true to the humanitarian aspect of our business,” Pepsi CEO Ramon Laguarta wrote in a memo to employees.

Starbucks CEO Kevin Johnson said they would suspend all Russian business activity, including the shipment of its products. While Mcdonald’s has announced the same, they received criticisms for some branches that remained open.

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