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Business Is Leaving Russia. Putin's Plans Are Falling Apart | The Gaze

08.29.2023 22:00

Beer giant Heineken has made a significant move by fully exiting the Russian market. The sale of 100% of its shares to Arnest Group was executed for a mere 1 euro, marking the end of Heineken's operations in Russia. This strategic decision concludes a process initiated in March 2022, resulting in an anticipated cumulative loss of €300 million. Heineken joins a list of other Western companies that have departed the Russian market, including Raiffeisen Bank International, Uniqa, Takeda, and Valeo. This exodus of Western enterprises comes as Moscow takes steps to retain foreign companies within the federation's economic landscape. Stay tuned for more insights into the evolving global business landscape.

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