Privately owned packaging company Tetra Pak will exit its remaining Russia operations after 62 years in the country.
on February 24 in what it calls a “special military operation,” drawing widespread sanctions and condemnation.
“[The exit] is due to the cumulative impact of the restrictions on exports to Russia leading to an unsustainable supply chain, as a result of which the company is left with no other option than to exit the country,” Tetra Pak said in a statement. Russia’s packaging industry is struggling under the impact of sanctions. A shortage of supplies has led to usually colorful juice cartons being printed mainly in white, footage filmed by Reuters showed.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia to quit International Space Station 'after 2024'Moscow said Tuesday it was leaving the International Space Station "after 2024" amid tensions with the West, in a move analysts warned could lead to a halt to Russian manned flights.
Read more »
Electronics industry says RCEP needed to ensure competitiveness - BusinessWorld OnlineThe electronics industry expressed confidence in the industry’s competitiveness, but urged the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP) trade agreement to enhance its prospects. READ:
Read more »
Marcos eyes incentives for investments in upstream gas sectorPresident Ferdinand "Bongbong" Marcos Jr. wants to incentivize investments in the upstream oil and gas industry.
Read more »
US LNG exports to Europe on track to surpass Biden promiseThe United States is on track to blow past President Joe Biden’s commitment of an additional 15 billion cubic meters of liquefied natural gas for Europe in 2022.
Read more »
Russian gas cut to Europe hits economic hopes, Ukraine reports attacks on coastal regions - BusinessWorld OnlineKYIV – Russia said it will cut gas supplies to Europe from Wednesday in a blow to countries that have backed Ukraine, while missile attacks in Black Sea coastal regions raised doubts about whether Russia will stick to a deal to let Ukraine export grain. The first ships from Ukraine may set sail in days under a deal agreed on Friday, the United Nations said, despite a Russian missile attack on the Ukrainian port of Odesa […]
Read more »
Russian gas cut to Europe hits economic hopes, Ukraine reports attacks on coastal regions(1st UPDATE) Missile attacks in Black Sea coastal regions raise doubts about whether Russia will stick to a deal to let Ukraine export grain
Read more »