Shareholder group urges Nestle to halt all Russia business

Nestle must halt all its activities in Russia, the Actares shareholder organisation said Monday, ramping up the pressure after Ukrainian President Volodymyr Zelensky singled out the Swiss food giant.

Nestle has suspended all its imports and exports to Russia, including Nespresso coffee pods and S.Pellegrino bottled water, but has maintained deliveries of vital products such as baby food.

In a speech live-streamed to a rally outside the Swiss federal parliament in Bern on Saturday, Zelensky urged Swiss companies to cease doing business in Russia, picking out Nestle, and condemned firms that carried on regardless despite the siege of Mariupol.

“Actares — shareholding for a more responsible economy — urges Nestle to consider President Zelensky’s call in the Federal Square to stop doing business with Russia!”, the group, one of Switzerland’s top shareholders’ associations, said in a statement.

Nestle insisted Sunday that it was not making any profits in Russia, winding down many of the firm’s activities in the country following the Kremlin-ordered invasion of neighbouring Ukraine on February 24.

“We have stopped all our investments there and have ceased all our advertising activities,” a spokeswoman told AFP.

“We do not make any profit from our remaining operations in Russia.

“We are doing everything possible in Ukraine and neighbouring countries to help alleviate this humanitarian catastrophe.”

Several US multinationals have withdrawn from Russia, like the fast food chain McDonald’s and the beverage giants Coca-Cola and Pepsi.

Nestle has been the subject of a call for a boycott circulating on social media networks.

On Monday, Zelensky called on European leaders to cease all trade with Russia in an effort to pressure Moscow to halt its nearly month-long military assault on Ukraine.

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