Beer giants Carlsberg and Heineken said they plan to pull out of Russia after the country's invasion of Ukraine. Dutch brewing giant Heineken said on Monday that the move would cost it about 400 million euros (£334 million), Denmark's Carlsberg said it would calculate the cost later.
Carlsberg said it made 682 million Danish kroner (£77 million) in operating profit from Russia last year. It employs 8,400 people there.
Both companies had previously said they would halt new investments and exports to Russia because of the invasion of Ukraine.
However, on Monday they confirmed they will now join a raft of Western consumer brands in leaving Russia completely. Heineken said in a statement: "Following the previously announced strategic review of our operations, we have concluded that Heineken's ownership of the business in Russia is no longer sustainable nor viable in the current environment.
