Ukraine's ambassador to the UN on Russia's invasion, sanctions and China's role.
Heineken has sold its business in Russia for one euro more than a year after it said it would pull out of the country because of Russia's invasion of Ukraine.
The Dutch company is taking a 300 million loss, or about $325 million, by selling its business to Russian manufacturer Arnest Group, which is one of the latest companies to pull out of Russia since the start of the war in Ukraine in February 2022.
Heineken had faced criticism for the slow pace of its exit, which CEO Dolf van den Brink attributed to the company's efforts to protect its Russian employees during the sale process.
Although it took far longer than we had hoped, this transaction provides the livelihoods of our employees and allows us to exit the country in a responsible manner, Mr. Sanders said in a statement.
Some 1,000 global companies have withdrawn or partially curtailed operations in Russia so far, according to Yale University data.
The scenario of exiting Russia is more difficult than it might appear. After facing tough sanctions and the start of an exodus of companies last year, Russia has imposed stricter requirements for foreign companies to exit the country.
After government-selected consultants evaluate their clients, Russian firms must provide a percentage of their profits to foreign companies, Reuters reported. The Russian government also requires foreign companies to contribute 10% of their business's sales price to the Russian budget.
The sale of Heineken encompasses all of its assets in Russia, including seven breweries. Arnest said it has guaranteed the employment of Heineken's 1,800 local staff for three years.
The Russian market for Heineken brand beer has been rid of its Heineken brand last year. One of its other major brands, Amstel, will be phased out within six months, the company said.
The company is not the only company to swallow big losses from a sneeze out of the Russian market. The company has said it plans to lose more than $1 billion to divest its Russia business.