Coca-Cola, Pepsi become latest brands to cease operations in Russia
The Coca-Cola Company and PepsiCo have suspended business in Russia, the companies announced Tuesday.
"Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine," the release states. "We will continue to monitor and assess the situation as circumstances evolve."
Pepsi, which has ben operating in Russia for more than 60 years, "must stay true to the humanitarian aspect of our business," CEO Ramon Laguarta wrote in a letter to PepsiCo associates.
"Our first priority continues to be the safety and security of our fellow Ukrainian associates," Laguarta said. "We suspended operations in Ukraine to enable our associates to seek safety for themselves and their families, and our dedicated crisis teams in the sector and region continue to closely monitor developments in real time."
Pepsi will also continue to provide aid to assist Ukrainians refugees in neighboring countries, including donating milk and refrigerators to relief organizations, and we’re ramping up production of foods and beverages in neighboring countries to meet the increased need, Laguarta said.
-ABC News' Will Gretsky