The US multinational says it’s selling its remaining stock and pulling out of the Russian market
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Coca-Cola has announced it will “no longer produce or sell Coca-Cola or other brands of the Coca-Cola Company in Russia,” adding that it is currently “in the process of depleting stock” in the country.
The US soft-drinks giant announced plans to suspend business in Russia in March, joining the exodus of Western companies, amid sanctions over the conflict in Ukraine.
Coca-Cola currently operates 10 factories in Russia, producing soft drinks including Fanta, Sprite and Schweppes, along with local brands such as Bonaqua, Dobry, Moya Semya and Rich juice. The US firm has yet to clarify whether its Russia-based brands will be sold or terminated.
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Coca-Cola began production in Russia in 1992 and according to its official site employs 7,000 people in the country.
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