Coca-Cola, PepsiCo suspend soda sales in Russia

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Coca-Cola (NYSE:KO) said its business in Russia and Ukraine contributed about 1% to 2% of the company’s net operating revenue in 2021.

PepsiCo, whose colas were one of the few Western products allowed in the Soviet Union prior to its collapse, said it would continue to sell daily essentials, such as milk and other dairy offerings, baby formula and baby food, in Russia.

Earlier in the day, McDonald’s Corp (NYSE:MCD) said it would temporarily close all 847 of its restaurants in Russia.