Coca-Cola And PepsiCo To Suspend Business In Russia

March 8, 2022 Russia, Ukraine

PepsiCo and Coca-Cola said Tuesday they are suspending business in Russia after that country’s invasion of Ukraine, a symbolic step-back by iconic U.S. brands.

“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.”

Russia represents one of the few regions worldwide where Coke’s rival PepsiCo has a larger presence. In a regulatory filing, Coke said its business in Ukraine and Russia contributed about 1% to 2% of its consolidated net operating revenue and operating income in 2021.

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McDonald’s, Starbucks, Coca-Cola and Pepsi suspend Russian operations https://t.co/w5xN9ATRcd

— Guardian Australia (@GuardianAus) March 8, 2022