Nestlé reviews options after Russia operations under Kremlin control
Nestlé announced that it is evaluating its options following the Kremlin's decision to place its operations in Russia under control, after a presidential decree earlier this year. This move comes in the context of the Russian-Ukrainian crisis and Western sanctions, which have resulted in losses exceeding $107 billion for foreign companies due to their exit from the Russian market. Moscow imposed strict conditions, including discounts of up to 50% on the sale of assets, further complicating and increasing the cost of exiting operations. While some food companies, like Nestlé, have continued to maintain their presence in the Russian market based on local demand, others have exited after selling their assets at nominal prices. Currently, Nestlé is assessing the situation to ensure the protection of its interests and the continuity of its operations in Russia.
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