Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Ukraine’s anti-graft agency recognizes PepsiCo, Mars int’l sponsors of war

Ukraine’s anti-graft agency put PepsiCo and Mars companies on the Ukrainian list of international sponsors of war for doing business in Russia.
Ukraine’s anti-graft agency recognizes PepsiCo, Mars int’l sponsors of war

Ukraine’s National Agency for the Prevention of Corruption (NAZK) has added two of the world’s leading consumer goods companies, PepsiCo and Mars, to the list of international sponsors of the war, according to the Agency’s statement.

“Despite statements about the reduction of their business, the cessation of advertising activities and the production of their goods, they continue to operate in Russia, paying significant taxes to its budget, thus supporting the economy of the aggressor country.” the NAZK statement reads.

PepsiCo produces soft drinks, juices, chips, snacks, dairy products, and other foods under the main brands Chester’s, Chipsy, Lay’s, Mirinda, Pasta Roni, Pepsi, Propel, Sandora, 7up, Simba, Snack a Jacks, Sonric’s, Tropicana, Agusha, Chudo, Slovyanochka, Sadochok, Sandorik, Mashenka, etc.

In terms of net profit, PepsiCo is the fourth largest company in the beverage and food industry in Russia.

In March 2022, the company announced that it would cease advertising and beverage production in Russia but then launched products under other names, such as Evervess and Frustyle.

PepsiCo increased its revenues in Russia in the first year of its full-scale invasion. Thus, the revenue of PepsiCo Holdings LLC in 2022 increased to $2.59 billion (or RUB 176.5 billion), with net profit increasing by 333% to $525 million compared to 2021. The company paid more than $115 million (or RUB 8.29 billion) in taxes to the Russian budget, the NAZK concluded.

Big brands still fund Russian attacks on Ukraine: pissed consumers urge boycott

Mars, also a food company, is known for chocolate bars, but also produces pet food, chewing gum, beverages, fast food, and canned sauces. Its main brands include Mars, Snickers, Milky Way, Twix, Bounty, M&M’s, Whiskas, Pedigree, and Uncle Ben’s. The corporation also owns a series of Wrigley trademarks.

The company promised to reduce its business in Russia after the start of a full-scale war. However, the factories continue to operate in Russia with an increase in revenues in 2022 compared to 2021. In 2022, Mars LLC’s revenue increased to $2.45 billion (or RUB 176.5 billion), net profit grew by 59% to $377 million (or RUB 27.2 billion), and taxes paid to the Russian budget amounted to more than $93 million (or RUB 6.76 billion).

“It is worth noting that by paying taxes, foreign companies help the Russian economy, in particular, the recently introduced military value-added tax and income tax. All of this ultimately affects Russia’s ability to wage war against Ukraine,” the NAZK emphasized in its statement.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here


    Total
    0
    Shares
    Related Posts