Coca-Cola, PepsiCo Suspend Operations in Russia

Coca-Cola and PepsiCo announced on March 8 that they are suspending their operations in Russia amid the invasion of Ukraine.

“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coca-Cola said in a brief statement.

Coca-Cola said it will monitor and assess the situation, but did not provide further details on the suspension.

PepsiCo said that it is suspending sales of its global beverage brands in Russia, as well as capital investments and all advertising and promotional activities, citing the “horrific events occurring in Ukraine.”

However, PepsiCo also said that it will continue to offer its other products in Russia, such as milk and baby food, for humanitarian reasons.

“By continuing to operate, we will also continue to support the livelihoods of our 20,000 Russian associates and the 40,000 Russian agricultural workers in our supply chain as they face significant challenges and uncertainty ahead,” PepsiCo Chief Executive Ramon Laguarta said in a memo sent to associates that was made public.

The suspensions came after Coca-Cola and PepsiCo — two of the biggest beverage companies in the world — faced growing calls to boycott their products.

The announcement also came shortly after McDonald’s and Starbucks announced similar decisions earlier in the day.

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