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Heineken leaving Russia, after first stopping investments, exports

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DPA

Dutch brewer Heineken Heineken said on Monday that continued ownership of its brand in Russia, following Moscow’s invasion last month of Ukraine “is no longer sustainable nor viable.” “As a result, we have decided to leave Russia.” The company had already stopped new investments and exports to Russia in the initial weeks after the February 24 invasion. It said it would now seek an “orderly transfer” of its business to a new owner and said it expects to lose about €400 million ($439.3 million). It said it would guarantee salaries for its 1,800 employees in Russia through the end of 2022.

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