The Coca-Cola Company has suspended its business activities on the territory of Russia, the company said in a statement on its website on Tuesday.
"The Coca-Cola Company announced today that it is suspending its business in Russia," the statement says.
The company stressed that it will continue to monitor and assess how the situation in Ukraine evolves.
PepsiCo also suspends sales of its drinks in Russia, as well as advertising activities, but the sale of baby food will continue, the company's CEO Ramon Laguarta said.
PepsiCo says it has made this decision following the events in Ukraine. "We are announcing the suspension of the sale of Pepsi-Cola, and our global beverage brands in Russia, including 7Up and Mirinda. We will also be suspending capital investments and all advertising and promotional activities in Russia," the company said.
