Coca-Cola announced on Tuesday the suspension of its business in Russia, following in the wake of a long list of multinationals that have decided to leave the country in response to the invasion of Ukraine.
In a brief statement, the soft drink giant said it will continue to monitor and assess the situation as circumstances evolve.
“Our hearts go out to the people who are suffering the horrific effects of these tragic events in Ukraine,” said the Atlanta, Georgia-based company.
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Coca-Cola’s decision comes on the same day that other symbols of American capitalism such as McDonald’s and Starbucks have also announced that they are suspending their operations in Russia.
Pepsi also takes action
The American multinational PepsiCo announced on Tuesday that it will suspend the sale of Pepsi, 7Up and other soft drinks in Russia, where it will also paralyze its investments and advertising, all in response to the invasion of Ukraine.
PepsiCo, unlike other companies, will not stop all its activities in Russia and will continue to supply some products, including milk, dairy and baby food, items it considers essential for many Russians.
The decision was announced by the CEO, Ramon Laguarta, in a message to his employees made public by the company itself.
“We have been operating in Russia for more than 60 years and have a place in many Russian homes. Pepsi-Cola entered the market at the height of the Cold War and helped create common ground between the United States and the Soviet Union,” Laguarta wrote, defending that the situation could not continue unchanged “given the horrible events” in Ukraine. .
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Sales of Pepsi-Cola and other global soft drink brands such as 7Up and Mirinda will be suspended, he said, while capital investments and all advertising and promotion activities in Russia are halted.
Meanwhile, Laguarta pointed out that as a food and beverage company, PepsiCo must “stay true to the humanitarian aspect” of its business and continue to offer other products in Russia that are essential.
By continuing to operate we will also continue to support the livelihood of our 20,000 Russian employees and the 40,000 Russian agricultural workers in our supply chain.
Meanwhile, the company said that it has also suspended operations in Ukraine to allow its workers to find safe places for themselves and their families and that it is providing aid for refugees who have fled to neighboring countries.
PepsiCo’s decision came shortly after Coca-Cola announced the suspension of all its business in Russia, which is one of the markets where it is behind its great competitor. (I)
Source: Eluniverso
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