Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia's government that would make its seizure of the assets look legitimate, the brewer's new CEO has said. The Danish group had since last year attempted to sell its Baltika subsidiary in Russia, following in the footsteps of many other Western companies exiting Russia since its invasion of Ukraine in February 2022. However, after announcing in June it had found a buyer for its business, Russian President Vladimir Putin the following month ordered the temporary seizure of Carlsberg's stake in the local brewer.
Carlsberg CEO: Russia Has 'Stolen Our Business'
The Danish group had since last year attempted to sell its Baltika subsidiary in Russia, following in the footsteps of many other Western companies exiting Russia since its invasion of Ukraine in February 2022.