PepsiCo suspends sale of beverage in Russia

PepsiCo suspends production and sale of Pepsi-Cola and other global beverage brands in Russia, company CEO Ramon Laguarta said in a statement.

Report informs, citing the company, that Laguarta explains the decision by the events in Ukraine.

"We are announcing the suspension of the sale of Pepsi-Cola, and our global beverage brands in Russia, including 7Up and Mirinda. We will also be suspending capital investments and all advertising and promotional activities in Russia. As a food and beverage company, now more than ever we must stay true to the humanitarian aspect of our business. That means we have a responsibility to continue to offer our other products in Russia, including daily essentials such as milk and other dairy offerings, baby formula and baby food," the statement reads.

The company said it will also continue to support the livelihoods of its 20,000 Russian associates and the 40,000 Russian agricultural workers in its supply chain.