PEPSI SUSPENDS SOFT DRINK SALES AND INVESTMENTS IN RUSSIA DUE TO THE WAR

After more than half a century operating in Russia, the multinational Pepsi-Cola announces that it is halting sales of its soft drinks. The American multinational thus joins the long list of companies that have cancelled their business relations in Russia. The company also cancels its investments in the Russian country following the invasion of Ukraine by Russian troops.

Specifically, PepsiCo has stopped selling Pepsi, 7Up and other soft drinks, while also halting its advertising. Unlike other companies, it will not stop all its activities and will continue to supply some products, which include milk, dairy and baby food, items it considers essential for many Russians.

As CEO Ramon Laguarta notes, “We have been operating in Russia for more than 60 years and have a place in many Russian homes. Pepsi-Cola entered the market at the height of the Cold War and helped create common ground between the United States and the Soviet Union” to which he adds that “by continuing to operate we will also continue to support the livelihoods of our 20,000 Russian employees and the 40,000 Russian farm workers in our supply chain”.

In the case of Ukraine, the multinational has also suspended its operations in Ukraine so that its workers can reach safe places for themselves and their families while providing aid to refugees who have fled to neighboring countries.