Heineken sells its Russian operations for 1 euro, taking a 300M-euro hit

abcnews.go.com

16 points·pg_1234··8 comments

A 300 million euro gift to Russia then?

Many transactions with western companies were for a small symbolic amount with a provision to leave the door open should it be mutually acceptable to return in the future. Not sure if that is the case here, the article is light.

Good. The Dutch government has committed itself to cutting the Russian cancer out of Europe. Putin failed with it's LNG blackmail. He tried with grain but causing famine in third world countries has never made European politicans blink.

I think companies are betting on things getting back to normal but if the Russian middle class can be successfully reduced to USSR levels it's best to cut losses now.

It's entirely due to SWIFT availability and the cost of financial sanctions, not because of some grand moral crusade.

Kicking a country out of SWIFT and making it much harder to do business by imposing sanctions because of an invasion you disapprove of is not some moral crusade?

I think he's referring to it being a second-order effect. I think most of the "sanctions" in this thing would be second, or third order anyway.

Kicking Russia out of SWIFT and imposing sanctions could count as a moral crusade, yeah. Heineken didn't kick them out of SWIFT or imposed sanctions though, governments did.

Heineken getting rid of their operations in Russia to abide by the imposed sanctions (which Heineken had no control over), however, wouldnt really count as a moral crusade.

They have space and resources to be insular just like China was.

All the sanctions have done is harmed home grown business, by cutting off overseas income, but still keep drinking the cool aid, your taxes will have to go up to pay for that!

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