USA & Russia: Molson Coors halting exports to Russia

Molson Coors is halting exports to Russia, becoming the latest company to cut off sales in the country over its invasion of Ukraine, the Chicago Business reported on March 10.

The brewing giant, whose North American headquarters is based in Chicago, has ”limited sales and no physical assets in Russia,” CEO Gavin Hattersley said in a statement on March 9. Still, it is suspending exports of and licenses to produce any Molson Coors products in the country.

“Like so many of us around the world, I have watched with a heavy heart as the tragic events in Ukraine continue to threaten the lives of millions of innocent people,” Hattersley said in the statement. “The stories and images we have seen are unspeakable, and all of us at Molson Coors continue to stand together in support of Ukrainians and everyone affected by the humanitarian crisis this war has created.”

The Coors Light maker employs only a handful of people in Ukraine. Hattersley said Molson Coors is arranging for safe passage out of the country and providing accommodations and financial support to workers there, or workers who have friends and family there.

“Nothing is more important than the wellbeing of our people, and in the days and weeks ahead they will continue to be our top priority,” he said.

Molson Coors joins an avalanche of companies ending operations in Russia. McDonald’s said earlier this week it would temporarily close all 847 of its stores in the country, but keep paying the salaries of employees. Massive pressure had been mounting from investors and consumers for the fast-food giant to stop doing business in Russia. Its 108 stores in Ukraine are also closed.

Some consumer-facing companies have stopped sales, but continued production of certain products in Russia. Experts expect companies will continue to cut ties in the country, following the Biden administration’s ban on Russian oil imports earlier this week.

11 March, 2022