NSRGY - Nestle stops sales and production of many non-essentials in Russia

Nestle SA (NSRGY -1.4%) stated Wednesday that it's suspending "vast majority of volume and sales" of its non-essential products in Russia amid rising pressures on the world's top consumer goods companies to fully exit the country following its invasion of Ukraine. The Swiss company said it will stop selling brands like KitKat and Nesquik chocolate mix in Russia that will also bring the production of these products to a halt. However, the sale of  essential foods like baby food and medical nutrition will continue to remain in focus. “As the war rages in Ukraine, our activities in Russia will focus on providing essential food, such as infant food and medical/hospital nutrition — not on making a profit,” Nestle said in the statement. “This approach is in line with our purpose and values. It upholds the principle of ensuring the basic right to food.” To put into perspective, Nestle has six

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Nestle stops sales and production of many non-essentials in Russia