Beer makers Heineken and Carlsberg announced Monday that they would pull out of Russia.
Heineken said its presence in Russia was "no longer sustainable nor viable"MOSCOW - Beer makers Heineken and Carlsberg announced Monday that they would pull out of Russia, joining a foreign business exodus following Moscow's invasion of Ukraine.
They are following hundreds of Western firms that have closed shops and offices in Russia since the war started, a motley list that includes famous names such as Ikea, Coca-Cola, Goldman Sachs and McDonald's. Heineken is the third-biggest brewer in Russia, where it makes the Zhigulevskoe and Oxota brands for the local market. Its other foreign brands include Amstel, Tiger and Strongbow cider.
"The war in Ukraine, and the escalating humanitarian and refugee crisis, shocks us all," CEO Cees 't Hart said in a statement. Revenues from the Russian operations will no longer be included in the company's earnings and the impact of its departure will be outlined at a later date.Ukraine pressure
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