Russian ex-president mocks Carlsberg after brewer says its business was stolen

© Reuters. FILE PHOTO: Taps for Carlsberg beer are seen in a bar in Copenhagen, Denmark, July 30, 2022. REUTERS/Andrew Kelly) on Wednesday for having thought it could quit Russia without penalty after the West sanctioned Moscow for its invasion of Ukraine.

Russia says the move does not change the ownership structure, but Carlsberg said it had cut ties with Baltika, scrapping all licence agreements, and would not enter a deal with Moscow that would make the seizure look legitimate. "Like their brethren in the Western menagerie, they abandoned everything in Russia for political reasons ..., refused to fulfil their obligations to Russian contractors.

The Danish group halted investments in Russia shortly after the invasion and has been trying to sell Baltika since last year, following in the footsteps of many other Western companies exiting Russia.

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Carlsberg CEO says Russia stole its businessSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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