Many companies, one after the other, suspend their operations or investments in Russia after its invasion in Ukraine.
Now it’s Nestle’s turn to announce that it suspends capital investments in Russia. The Switzerland-based company had already stopped all advertising in Russia but it continues supplying essential food products, following the decision of other food majors.
The world’s biggest consumer goods companies have lagged some financial services firms, oil and gas companies and retailers that have withdrawn entirely from Russia. They argue Russians rely on their products for everyday life.
Procter & Gamble and Unilever had also ended new capital investment and advertising in Russia. Unilever as well has suspended all imports and exports of products into and out of the country.
