(Bloomberg) -- PepsiCo Inc. is suspending the sale of its soft drinks and global beverage brands in Russia following the nation's invasion of Ukraine.
The company is also pausing capital investment, advertising and promotional activities in the country. PepsiCo has a humanitarian responsibility to offer other products, including daily essentials such as milk and baby formula, it said.
“By continuing to operate, we will also continue to support the livelihoods our 20,000 Russian associates and the 40,000 Russian agricultural workers in our supply chain as they face significant challenges and uncertainty ahead,” Chief Executive Officer Ramon Laguarta said in a memo to employees on Tuesday.
The company is also supplying aid to Ukrainian refugees, Laguarta said.
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