-Coca-Cola Co and PepsiCo Inc said on Tuesday they are suspending sales of their sodas in Russia, becoming the latest high-profile Western consumer brands to curtail operations in the region following Moscow’s invasion of Ukraine.
Coca-Cola said its business in Russia and Ukraine contributed about 1% to 2% of the company’s net operating revenue in 2021.
PepsiCo, whose colas were one of the few Western products allowed in the Soviet Union prior to its collapse, said it would continue to sell daily essentials, such as milk and other dairy offerings, baby formula and baby food, in Russia.
Earlier in the day, McDonald’s Corp said it would temporarily close all 847 of its restaurants in Russia.
(Reporting by Praveen Paramasivam and Uday Sampath in Bengaluru; Editing by Shailesh Kuber and Amy Caren Daniel)