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Dutch brewer Heineken has said it will exit its business operations in Russia—a move the company expects will cost 400 million euros ($438 million).
Heineken previously announced it was halting new investments and exports to Russia, as well as the production, sale, and advertising of the Heineken brand. The Amsterdam-headquartered company had also said it would no longer accept any net financial benefits or profit from its business in Russia
But on March 28, the international brewer said in a statement that it was “shocked and deeply saddened to watch the war in Ukraine continue to unfold and intensify” and has concluded that its “ownership of the business in Russia is no longer sustainable nor viable in the current environment…
