Dutch brewer Heineken, TV company Discovery and the Universal Music Group have joined the corporate exodus from Russia over the Ukraine invasion.
Heineken said Wednesday it will stop the production, advertising and sale of the beer brand in Russia. The company said it stands with the Ukrainian people and called the Russian government’s war “an unprovoked and completely unjustified attack.”
“We will take immediate steps to ring-fence our Russian business from the wider Heineken business to stop the flow of monies, royalties and dividends out of Russia,” said Heinken, which earlier stopped all new investments and exports to Russia.
Discovery said in a brief statement that it decided to “suspend the broadcast of its channels and services in Russia.” The indefinite suspension is set to take effect by the end of Wednesday.
Universal Music Group said late Tuesday that it’s suspending all its operations and closing its offices in Russia, effective immediately.
Earlier Wednesday, Imperial Brands became the first of the so-called Big Four tobacco producers to halt all operations in Russia. It said the move includes halting production at its factory in Volgograd and ceasing all sales and marketing activity in the country.
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