Last month, Russia’s invasion of Ukraine was criticized by the outside world and condemned by major powers. Some actors also expressed solidarity with Ukraine through various channels. At the same time, many companies have successively announced sanctions against Russia and suspended their local economic activities in Russia, including Burberry, IKEA, Disney and so on.
Recently, there have been reports that Nestle has also joined the sanctions, suspending the supply of most products to Russia and suspending investment plans.
In a speech in Switzerland earlier, the Ukrainian president criticized Nestle and other companies for maintaining business relations with Russia under the slogan of “quality food, better life” even as Ukrainian children continue to die. Not only that, but some people in Switzerland recently held up the “Boycott Nestle” sign to protest Nestle’s failure to impose sanctions on Russia. Therefore, Nestle announced that it will suspend the import and investment plan of some products, and will only provide basic nutritious food.
Nestle said the company has stopped non-essential imports and exports to Russia, including Kitkat, Nesquik and other chocolate-based desserts. Now, Nestle will only provide basic food items to Russia, such as basic nutrition, medical care, baby items, etc.
“Our thoughts are with Ukraine, and our thoughts are with the 5,800 employees there (in Russia), who will continue to pay Russian workers, “Nestle said.
It is reported that Nestle shares fell 1.3% after the announcement that it would suspend the supply of products to Russia.
