Mar 8, 2022 - Economy

Coca-Cola suspends business in Russia

Coke cans

Photo: Scott Olson/Getty Images

Coca-Cola is suspending operations in Russia in response to President Vladimir Putin's invasion of Ukraine, the company said Tuesday.

Why it matters: Sanctions and divestment from the business community have increasingly isolated Russia from the rest of the world. Businesses operating there have a limited ability to collect revenue or pay workers and suppliers.

What they're saying: "Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine," the company wrote in a news release.

  • "We will continue to monitor and assess the situation as circumstances evolve." 

Go deeper: Top global companies abandon Russia after Ukraine invasion

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