Heineken withdraws from Russia completely

Heineken withdraws completely from Russia. According to the brewer, it is no longer possible to remain active in the country in a profitable way under the current circumstances. Heineken will likely have to write off approximately 400 million euros due to the decision, the group said.

Heineken previously said it would stop producing and selling its Heineken beer in Russia due to the Russian invasion of Ukraine. The brewer also stopped investments in and exports to the country. But Heineken also produced many local beers in Russia, including Zhigulevskoe and Oxota. In the past weeks, the company considered what to do with its Russian activities.

"We are shocked and deeply saddened to see how the war in Ukraine continues to unfold and intensify," the group said. With approximately 1,800 employees, Heineken says it is the third-largest brewer in Russia.

Heineken intends to find a new owner for its Russian activities. The group stressed that it would make no profits on this sale. The company also said that it will continue to pay its Russian staff's salaries until at least the end of this year. Heineken will also do its utmost to ensure that their jobs continue to exist in the future.