These companies, including Coke-Pepsi, stopped business in Russia, increasing economic sanctions on Russia

Voices are getting louder from all over the world against Russia’s ongoing attack on Ukraine. Many countries have announced economic sanctions on Russia. Along with this, the scope of economic sanctions against Russia is increasing continuously. On one hand many countries are announcing restrictions, while private companies are also not lagging behind in this matter.

To break Russia’s back financially, many well-known companies have announced not to work in Russia. So far, the names of Coca-Cola and PepsiCo have also been added to this list along with McDonald’s, Starbucks and General Electric.

Coca-Cola and PepsiCo stop work in Russia
Coca-Cola and PepsiCo have announced a temporary closure of business in Russia in protest against the attack on Ukraine. All these companies with global brands and American corporate icons have announced that we are temporarily suspending our business in response to Russia’s attack on Ukraine. At the same time, German sportswear maker Adidas, international energy company Shell, cosmetics company Estee Lader and Calvin Klein have also announced the closure of all their activities in Russia.

Carmaker Volkswagen has stopped taking orders for many hybrid models. Apart from this, McDonald’s, which operates 850 restaurants in Russia, has also announced the closure of all its restaurants. Meanwhile, the US and some of its allies have banned imports of oil, natural gas and coal from Russia. Britain has also announced to stop importing oil and oil products from Russia in a phased manner by the end of this year.

Russia warns of restrictions on oil exports
According to media reports, by the end of this year, the European Union has also made up its mind to reduce its dependence on Russian gas by two-thirds.

Let us tell you that Ukrainian President Volodymyr Zelensky had also requested the US and Western countries several times to cut Russian oil imports. According to reports, Russia has also warned of banning oil exports amid restrictions on imports from Russia.

After Germany halted work on the Nord Stream 2 pipeline, Russian Deputy Prime Minister Alexander Novak said that if the US and its allies impose sanctions on oil imports from Russia, the price of crude oil will cross $ 300 per barrel.