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Business in Russia is closed by the New Zealand dairy products manufacturer Anchor Fonterra. According to Fonterra’s website, the company has announced it is pulling out of its joint project with the Russian firm Unifood.
It is clarified that the decision was made due to the situation in Ukraine and the sanctions imposed against the Russian Federation, which, as noted by the company, affect employees and long-term plans in the Russian market.
“We will close our office in Moscow, relocate staff where possible, and exit our Unifood joint venture,” CEO Miles Harrell explained.
Recall that at the end of February, Fonterra suspended deliveries to Russia. Russia accounted for about 1% of its annual exports, mainly supplied with butter under the Anchor brand.
In addition, New Zealand has joined the sanctions against Russia, banning the issuance of visas to Russian officials and other citizens associated with a special military operation in Ukraine.
Source: Rosbalt
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