PepsiCo and Coca-Cola, as well as fast food behemoth McDonald’s and coffeehouse chain Starbucks, all declared on Tuesday that they were temporarily stopping operations in Russia in response to the country’s invasion of Ukraine.
“Given the horrible events in Ukraine, we are suspending the sale of Pepsi-Cola and other worldwide beverage brands, including 7Up and Mirinda, in Russia. We will also halt all capital investments as well as all advertising and promotional efforts in Russia”, CEO Ramon Laguarta said to PepsiCo employees in a letter.
PepsiCo, on the other hand, stated that it will continue to sell everyday necessities such as milk and other dairy products, infant formula, and baby food in Russian markets.
In a press release, Coca-Cola stated that it was “suspending its business in Russia”. The measures follow Russia’s invasion of Ukraine after the separatist areas of Donetsk and Luhansk were recognised as independent republics. “We condemn Russia’s heinous actions on Ukraine, and our hearts go out to all those impacted”, Starbucks CEO Kevin Johnson said in a statement, adding, “We have chosen to cease all commercial activities in Russia, including the shipping of all Starbucks goods”.