Nestle Suspends Sales Of KitKat, Nesquik And Other Brands In Russia

Nestle SA (NSRGY.PK), one of the largest food company in the world, announced that it is suspending sales of some of its brands, including KitKat and Nesquik, in Russia amid ongoing pressure as Russia continues to invade Ukraine.

“We are suspending renowned Nestlé brands such as KitKat and Nesquik, among others,” the company announced in a statement.

“We have already halted non-essential imports and exports into and out of Russia, stopped all advertising, and suspended all capital investment in the country. Of course, we are fully complying with all international sanctions on Russia.”

Meanwhile, the company said its activities in Russia will be restricted on providing essential food, such as infant food and medical/hospital nutrition.

“While we do not expect to make a profit in the country or pay any related taxes for the foreseeable future in Russia, any profit will be donated to humanitarian relief organizations,” the company added.

The company also said it has contributed hundreds of tons of food supplies and significant financial assistance to support the people in Ukraine and refugees in neighboring countries.

On Saturday, Ukrainian President Volodymyr Zelenskyy had called out at the Swiss company for continuing its operations in Russia.

“‘Good food. Good life.’ This is the slogan of Nestlé. Your company that refuses to leave Russia,” Zelensky said on Saturday during an address to the people of Switzerland. “Even now — when there are threats from Russia to other European countries. Not only to us. When there is even nuclear blackmail from Russia.”

Source: Read Full Article