Western Brands such as Coca-Cola are withdrawing from the Russian Market

The British consumer goods giant Unilever is suspending all imports and exports of its products to Russia, as well as media and advertising costs. The American producer of soft drinks The Coca-Cola Company is also ceasing its activities in the country.

“We will not invest more capital in the country, nor will we benefit from our presence in Russia,” said CEO Alan Jope.

But Unilever “will continue to supply the people of our country with our daily staple food and hygiene products made in Russia,” he said. The company owns several household brands, including Ax, Ben & Jerry's and Dove.

The world's largest cosmetics company L'Oreal also stopped all investments in Russia today and temporarily closed its stores.

“We strongly condemn the Russian invasion and the war in Ukraine, which is causing so much suffering to the Ukrainian people,” the French company said.

Both companies also stopped operations in Ukraine to focus on the safety of their employees and their families and pledged 5m euros in donations to help victims in the country.

The Coca-Cola giant has taken the same steps. “Coca-Cola announced today that it is ceasing operations in Russia,” the company said in a statement posted on its website. The company stressed that it will continue to monitor the situation around Ukraine.

Coca-Cola Hellenic Bottling Company AG (Coca-Cola HBC) is a leading European company for the production and distribution of beverages of The Coca-Cola Company and part of the Coca-Cola system. Coca-Cola HBC AG operates in 28 countries and serves a population of 595 million. Coca-Cola HBC Russia has 10 plants for the production of soft drinks and juices in Moscow and the Moscow region, St. Petersburg, Samara, Yekaterinburg, Rostov region, Novosibirsk, Krasnoyarsk and Vladivostok.

/BGNES

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