German confectioner Haribo has reportedly announced plans to suspend supplies to Russia, as its recent economic difficulties there have been seriously aggravated by the military conflict between Moscow and Kiev.
“An already tough economic environment” in Russia has been recently exacerbated by the Russia-Ukraine strife, sending prices for primary produce soaring, supply chains changing and prices for logistics increasing, according to a message sent by the company to retail chains, as quoted by Russian business daily Kommersant.
“The company’s management decided to suspend production for the Russian market until further notice,” the message, signed by Haribo CEO Walter Nikolaus, reads.
At the same time, the company said that the decision does not mean that Haribo is announcing downtime or is leaving the market forever.
“Under the current circumstances, Haribo, as a family business, must protect the commercial interests of the company and, therefore, must suspend its activities for a while and determine the path in which business in Russia will go further,” according to the document that was sent on Friday.
Later in the day, an unnamed source told RIA Novosti that Russian retail chains hadn’t received the message from the German confectioner.
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