Coca-Cola and PepsiCo are suspending their operations in Russia in response to the country’s invasion of Ukraine, the beverage companies announced on Tuesday. The companies join a host of other leading U.S. brands in boycotting the country in recent days as a sign of solidarity with the former Soviet nation. Starbucks also announced Tuesday that it is pulling the plug on its business in Russia while condemning the “horrific attacks on Ukraine by Russia.” “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Atlanta-based Coca-Cola said in a statement Tuesday afternoon. “We will continue to monitor and assess the situation as circumstances evolve.” The company, which operates several bottling plants in Russia, did not provide further details regarding its decision. In a regulatory filing, Coca-Cola said its business in Russia and Ukraine contributed about 1 to 2 percent of the company’s net operating revenue in 2021. PepsiCo, …
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