ST. LOUIS — Anheuser-Busch InBev said Friday it would forfeit “all financial benefit” from its joint venture in Russia following the invasion of Ukraine.
The world’s largest brewer, which has its North American headquarters in St. Louis, said it had also asked the controlling partner in the venture to suspend the production and sale of Budweiser in Russia.
“We are focused on supporting our employees, their families and the humanitarian relief efforts in Ukraine while wishing for peace,” the company said in a statement.
The decision follows similar decisions from other international brewers earlier this week. Dutch brewer Heineken NV and Danish brewer Carlsberg both said they would stop advertising, producing and selling their namesake brands there. They join a long list of Western companies pausing Russian operations, including Apple, Boeing and McDonalds.
AB InBev said joint venture employees in Ukraine and Russia will continue to be paid. It also said it was providing housing for its Ukranian employees and their families and working with other organizations to provide food, water, blankets and medical supplies to the besieged country and refugees.