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Coca-Cola finally stops sales on the Russian market

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Coca-Cola finally stops sales on the Russian market

Coca-Cola finally stops sales on the Russian market

Ukrinform

Stocks of Coca-Cola HBC AG products in Russia are running out, and it will no longer work in Russia.

According to Ukrinform, this is reported by Reuters with reference to the company’s statement.

After Coca-Cola stock runs out, HBC “will no longer manufacture or sell Coca-Cola or other Coca-Cola Company brands in Russia,” the beverage maker said in a statement.

The Swiss company Coca-Cola HBC, 23% owned by American Coca-Cola, bottles and sells brand drinks in 29 countries, including Greece, Italy and Eastern Europe, as well as the Russian Federation.

As reported, as of May 29, 1,037 companies have curtailed their work on the Russian market, 438 have reduced current operations and suspended new investments, and another 590 continue to operate.

Read also: Germany wants to continue doing business with Russians – Duda

According to the Kyiv School of Economics, the companies that announced their full withdrawal from the Russian Federation had $32.5 billion in annual revenue and $19.9 billion of capital. Companies that suspended their activities in the Russian market had an annual income of $58.7 billion and $32.7 billion of capital. 70 companies – the largest taxpayers – paid $ 20.2 billion in taxes per year.

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