Carlsberg's Russian Business Stolen by Moscow
Carlsberg has severed all ties with its Russian business and refuses to engage in a deal with the Russian government that would legitimize Moscow's seizure of its assets. The Danish brewer had been attempting to sell its Baltika subsidiary in Russia but faced temporary seizure of its stake by Russian President Vladimir Putin after announcing a buyer. Carlsberg's new CEO, Jacob Aarup-Andersen, stated that they will not enter into any transaction that justifies the illegal takeover of their business. The company has also ended license agreements for its brands in Russia, preventing Baltika from producing and selling Carlsberg products.