Danone suspends investment in Russia

France-based dairy products giant Danone decided to suspend all investment projects in Russia but maintain the production and distribution of fresh dairy products and infant nutrition, to still meet the essential food needs of the local population.

Danone Chief Executive Officer Antoine de Saint-Affrique was among CEOs and chairmen of some of France’s biggest companies who met with Emmanuel Macron on Friday, according to Le Figaro. The French president urged them not to leave Russia hastily, and in any case not without consulting the government.

One of Danone’s two factories in Ukraine has closed, while the second has resumed operations. Since the beginning of the conflict, the priority for the company has been for the safety of the employees in Ukraine and to explore how to bring a variety of basic necessities to Ukraine.

About 6% of Danone's sales come from Russia and Ukraine, combined.