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Coca-Cola suspends business in Russia

Coca-Cola on Tuesday announced in a statement it is “suspending its business in Russia.”

“The Coca-Cola Company announced today that it is suspending its business in Russia. Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine. We will continue to monitor and assess the situation as circumstances evolve.”

The move by Atlanta-based Coca-Cola comes amid increasing pressure on the soft drink giant as Russia’s attack on Ukraine has continued for more than a week. Last weekend, a group of protesters at Centennial Olympic Park called-on Coca-Cola to stop Russia operations.

Earlier on Tuesday, McDonald’s announced it was temporarily closing its more than 800 restaurants in Russia. Coca-Cola rival Pepsi is also suspending sales of its soda in Russia.

The Associated Press reports Coke’s partner, Switzerland-based Coca-Cola Hellenic Bottling Co., owns 10 bottling plants in Russia, which is its largest market. Coke has a 21% stake in Coca-Cola Hellenic Bottling Co.


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