(MENAFN) Diageo, a United Kingdom-based maker of alcoholic beverages, has informed the press that it is leaving Russia as a result of Western penalties imposed on Moscow because of the Ukraine crisis.
According to a spokesperson, as reported by the news agency Interfax, “we made a difficult decision to force a gradual reduction in commercial activity in [Russia].”
The corporation stated that all Russian workers would get compensation as well as that the end of Russian operations is going to take place after six months.
One of the biggest makers of alcohol in the world, Diageo is the owner of well-known labels including Smirnoff, Johnnie Walker, Guinness, Baileys, and Captain Morgan. Moreover, the corporation’s website states that it provides beverages to almost 70,000 retailers, 19,000 restaurants, and pubs throughout Russia.
Shortly after Russia began its military action in Ukraine in March, Diageo ceased selling its goods to clients in that nation. The corporation justified the suspension of shipments at the time by pointing to the " state of global supply chains," which had been weakened by the Ukraine situation. The corporation apparently sold all of its Russian equity since March.
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