- Leading climate activist released from Vietnam jail
- Ethiopians struggle with bitter pill of currency reform
- Sri Lanka votes in first poll since economic collapse
- Feminist author warns of abortion disaster if Trump wins US election
- US city of Flint still reeling from water crisis, 10 years on
- Arsenal's mean defence faces acid test to shut out Man City again
- Late surge lifts Thailand's Jeeno to LPGA Queen City lead
- DeChambeau says PGA's Ryder Cup decision 'just the start'
- Alcaraz defeated on Laver Cup debut
- Postecoglou embraces 'struggle' to make Spurs a success
- Nice hand 'ashamed' Saint-Etienne 8-0 Ligue 1 mauling
- Boeing CEO says ending strike 'a top priority'
- Stock markets mostly fall after Fed-fueled rally
- Harris slams Trump for hypocrisy on abortion as US starts voting
- Academy to host first overseas ceremony to honor young filmmakers
- No doctor necessary: US okays nasal spray flu vaccine for self-use
- Gurbaz, birthday boy Rashid lead Afghanistan to 177-run rout of South Africa
- Former delivery man Baldwin leads star names at PGA Championship
- Trump shooting: Secret Service admits complacency
- Can an ambitious Milei make Argentina an AI giant?
- Haiti, its suffering growing, in 'race against time': UN expert
- Ibrahim Aqil, the Hezbollah elite unit commander wanted by the US
- Chinese forward Cui signs NBA contract with Brooklyn Nets
- US Fed dissenter calls for 'measured' pace of rate cuts
- Guardiola tells players to lead change over workload as Kompany demands cap on games
- Norway limits wild salmon fishing as stocks hit new lows
- Top Hezbollah commander killed in Israeli strike on Beirut
- Rotterdam fatal knife attacker suspected of 'terrorist motive'
- First early votes cast in knife-edge US presidential election
- Top-ranked Swiatek out of Beijing due to 'personal matters'
- Hard-right Reform UK looks to the future after vote success
- Embiid agrees to NBA contract extension with 76ers
- Joshua aims to complete road to redemption in Dubois bout
- World champion Bagnaia sets pace with lap record at Misano
- Biden says 'working' to get people back to homes on Israel-Lebanon border
- Pope criticises Argentina's crackdown on protesters
- Court limits screenings of videos in France mass rape case
- Gurbaz century takes Afghanistan to 311-4 in 2nd ODI
- Central banks face 'difficult balancing act': IMF chief
- McLaren's Norris sets Singapore pace as struggling Verstappen 15th
- Guardiola tells players to lead change over workload fears
- Paris Olympics sports equipment moves to new homes
- 'Happy' Kinghorn relishing life at Toulouse
- Norris sets Singapore pace as Verstappen only 15th
- 8 dead in Israeli strike, source says Hezbollah commander killed
- Germany to bid to host women's Euro 2029
- Portugal brings deadly forest fires under control
- Postecoglou defends Solanke after slow start to Spurs career
- US nuclear plant Three Mile Island to reopen to power Microsoft
- Arteta urges Arsenal to take next step in Man City showdown
Heineken exits Russia in wake of Ukraine war
Dutch brewer Heineken on Monday joined the foreign business exodus from Russia over the war in Ukraine, saying it was "deeply saddened" to see the conflict intensify.
The beer company, which employs 1,800 people in Russia, had already halted the sale and production of its Heineken brand in Russia, and suspended new investments and exports to the country earlier this month.
Hundreds of Western firms have closed shops and offices in Russia since the war started, a list that includes famous names such as Ikea, Coca-Cola, Goldman Sachs and MacDonald's.
"We are shocked and deeply saddened to watch the war in Ukraine continue to unfold and intensify," Heineken said in a statement.
"Following the previously announced strategic review of our operations, we have concluded that Heineken's ownership of the business in Russia is no longer sustainable nor viable in the current environment," the statement said.
"As a result, we have decided to leave Russia."
Heineken said it would aim for an "orderly transfer" of its business to a new owner in compliance with international and local laws and would not take any profit from the transaction, which will cost the company 400 million euros ($438 million) in exceptional charges.
Heineken is the third-biggest brewer in Russia, where it makes the Zhigulevskoe and Oxota brands for the local market
- Guaranteeing salaries -
The company said it would continue on reduced operations during a transition period to reduce the risk of nationalisation and "ensure the ongoing safety and wellbeing of our employees".
"In all circumstances we guarantee the salaries of our 1,800 employees will be paid to the end of 2022 and will do our utmost to safeguard their future employment."
Upon completion of the transfer Heineken will no longer have a presence in Russia.
The country has been hit by an onslaught of economic sanctions but foreign companies have also faced public pressure, and calls from the Ukrainian government, to leave Russia.
Some companies have remained in Russia, citing concerns about the fate of their employees or depriving ordinary Russians of vital goods.
Ukrainian President Volodymyr Zelensky used an address to France's parliament last week to call on French companies still working in Russia to "stop sponsoring" aggression against his country.
Car giant Renault subsequently announced an immediate suspension of operations at its Moscow factory.
But the chief executive of French retail giant Auchan, Yves Claude, defended the company's decision to remain in Russia, citing the need to keep staff employed.
Ukraine called for a global boycott of Auchan.
H.Seidel--BTB