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Dutch brewer Heineken announced on Monday that it was withdrawing from Russia, becoming the last Western firm to withdraw from the country following Ukraine’s attack by Moscow.
The beer company had already banned the sale and production of its Heineken brand in Russia, as well as suspended new investments and exports to the country earlier this month.
“We are shocked and deeply saddened to see the war in Ukraine continue to unfold and intensify,” Heineken said in a statement.
“After the previously announced strategic review of our operations, we have concluded that ownership of Heineken’s business in Russia is no longer sustainable or enforceable in the current environment,” the statement said.
“As a result, we have decided to leave Russia.”
Heineken said it would aim for a “regular transfer” of its business to a new owner in accordance with international and domestic law and would not benefit from the transaction, which would cost the company € 400 million (438 million dollars) in extraordinary tariffs, reports VOA.
The company said it would continue with reduced operations during a transition period to reduce the risk of nationalization and “guarantee the continued safety and well-being of our employees.”
“In all circumstances, we guarantee that the salaries of our 1800 employees will be paid by the end of 2022 and we will do our best to protect their employment in the future.”
Hundreds of Western firms have closed their stores and offices in Russia since the start of the war, a list that includes well-known companies such as Ikea, Coca-Cola and MacDonald’s.
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