Russia says it will ‘drastically reduce’ military action against Kyiv and Chernihiv

For foreign companies based in Russia, options are increasingly restricted in the financial and geopolitical context. Coincidentally, Decathlon has just announced “Suspension” Its operations in Russia. Moreover, before the Dutch brewer Heineken and its Danish rival Karlsberg, other groups announced their withdrawal from Russia from the Ukraine invasion.

McDonald’s announced on March 8 that it was temporarily closing its restaurants in Russia. But the brand’s restaurants were still operational on March 18th. For good reason: This decision is about companies that are directly owned by the US company and are not managed by the owner. This is almost 80% of the 850 companies in this country. The same variable geometric summary for its biggest competitor KFC. The brand that specializes in chicken is the majority, as it accounts for 70 of the 979 companies in total.

Restaurant Brand International, a partner of Burger King, has vowed to stop its investments in the country ruled by Mr Putin, insisting that nearly 800 of its outlets are in the hands of owners and that they must remain open. In contrast, Starbucks clarified that it has a Kuwaiti company that operates its cafes in Russia and has about 130 cafes that have agreed to close temporarily.

On the side Industrial, The positions taken should also be kept in perspective. Coca-Cola’s report on the suspension of its operations in Russia is more than Sybiline. The ball, in fact, is in the court of Coca-Cola Hellenic, its bottle partner, which is rarely in the rules for enforcing Atlanta’s decision. At its main competitor PepsiCo, it chose not to export its flagship brand Cola and other sodas to Moscow. But the American team has very strong local roots. In 2010, he was bought by the Russian leader, a leading player in the dairy, baby food and fruit market. In this case the Wimm-Bill-Don company estimated its revenue at $ 5 billion (approximately 4.53 billion euros). Similarly, Kellogg continues to produce cereals and biscuits at three factories in Russian territory.

See also  Wednesday August 24, 2022 Corona virus in the world: new cases and deaths in 24 hours

Last week, Swiss food company Nestle announced that it would further reduce the range of its products sold in Russia, but maintain the supply of baby products and medical foods. For example, the group is suspending brands such as KitKat chocolate bars or Nesquik chocolate powders, according to a press release. A Nestl spokesman told AFP it would also suspend pet products and coffee. In a press release issued on March 11, the world’s number one food company explained that it had no intention of closing its seven local factories and had suspended its imports and exports to Russia, especially its major international brands such as Nespresso or San. Bellegrino Mineral Water, to limit themselves to basic needs.

If you want to know more, you can read our article: In Russia, moderate withdrawal for American food brands

Page Luxury brand, Hermes announced on March 4 the decision to suspend its operations in Russia. In the evening, the channel made a similar decision “Problem with implementation” In the country. Hours later, the Franசois-Henry Binald-led group announced the closure of Kering and LVMH, the world’s number one company in the industry owned by France’s first lucky Bernard Arnold. “Temporarily their stores”.

The Oil groups British companies such as BP and Shell and American ExxonMobil, car manufacturers Jaguar Land Rover, Volvo, Toyota and Volkswagen, Generali, Ikea or Apple, Disney, Microsoft, Meta have all decided to leave the country. Activities or close their representative office.

If you want to know more, you can read our article: Against the tide of many multinationals, large French companies want to stay in Russia

See also  Oil spills do not justify Nord Stream gas pipeline shutdown, Siemens judges after Gazprom announcement

To find out the details of Western companies still in Russia, you can follow the established list Yale School of Management website.

Leave a Reply

Your email address will not be published.