The Coca-Cola Company and PepsiCo have joined the exodus of international companies shutting down operations in Russia because of the war in Ukraine, suspending their businesses in the country amid mounting public pressure on corporations to punish Moscow.Coca-Cola announced its decision in a three-sentence statement on Tuesday, saying: “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine. We will continue to monitor and assess the situation as circumstances evolve.”A statement from Coca-Cola’s top rival, PepsiCo, followed minutes later, saying sales of its soft drink brands would be suspended in Russia. PepsiCo is also shutting down its capital investments and advertising in Russia, but the company said its sales of such “daily essentials” as milk and baby formula will continue for humanitarian reasons.PepsiCo noted that it entered the Russian market at the height of the Cold War and “helped create common ground between the United States and the Soviet Union.” […]
Coca-Cola and PepsiCo suspend businesses in Russia
