Colgate-Palmolive Suspends Sales of its Products in Russia

Share Us

1087
Colgate-Palmolive Suspends Sales of its Products in Russia
12 Mar 2022
5 min read

News Synopsis

In response to the invasion of Ukraine, the US-based company Colgate Palmolive has stopped importing and selling all products except essential health and hygiene products in Russia.

An official statement issued by the company's CEO, Noel Wallace has said that the company has ceased all capital investments, media, advertising and promotional activities in Russia.

The company said in its statement, “We have ceased all capital investments, media, advertising and promotional activities. Going forward, the company will continue to assess the situation to take actions in a way that aligns with our values and reflects our commitment to Colgate people and the communities where they live and work.”

Earlier, US beverage giants PepsiCo and Coca-Cola, along with fast-food giant McDonald's and coffee shop chain Starbucks, announced a suspension of operations in Russia.

In addition, credit card and payment giants Mastercard and Visa have announced that they will stop operating in Russia and that cards issued by Russian banks will no longer work abroad.

A series of sanctions and business closures came after Russia invaded Ukraine after recognizing the separated areas of Donetsk and Luhansk in Ukraine as independent republics. 

However, Russia continues to claim that it has launched "military operations" in Ukraine to rescue the inhabitants of eastern Ukraine and "demilitarise" and "denazify" the country's political leadership.