Carlsberg brewery removed from Russian list

Carlsberg’s Russian assets have been removed from a list of Western assets under Russian state administration according to a presidential decree reported by Reuters. In July 2023, Russia temporarily took control of Carlsberg’s share in the Baltika Breweries. The new decree does not specify who will now control the assets. Carlsberg is aware of the announcement and is assessing the decision without further immediate comment. Carlsberg made a significant write-down on Russian activities, affecting the 2023 annual report with a loss over 47 billion kroner. Taimuraz Bolloev was appointed director of Baltika without Carlsberg’s approval. Other Western companies, like Danone, have also come under Russian control since the invasion of Ukraine; Danone sold its Russian assets earlier in the year.