August 30, 2023

Hoppy Endings


Hoppy Endings
A neon Heineken sign. Smit Patel, Unsplash.

It has been a long time brewing, but the Dutch multinational Heineken has finalized its withdrawal from the Russian market by selling off its operations in the country for €1 ($1.08), following the Kremlin’s rigid rules imposed in retaliation to Western sanctions.

In March 2022, Heineken declared its intention to exit the Russian market, reporting that profits were “no longer sustainable nor viable in the current environment.” The company, however, emphasized its commitment to effect a systematic handover to a prospective new owner.

New regulations from Russia's Finance Ministry for asset sales have hindered Western firms. The process is labyrinthine and lasts 6 to 12 months.

The Dutch company faced criticism for its seemingly unrushed approach, however. After more than a year, Heineken announced that they would sell all Russian assets to Arnest Group, Russia’s largest manufacturers of cosmetics, household goods, and aerosol products. As part of the deal, Arnest Group has agreed to oversee Heineken’s local staff’s employment for three years to ensure the livelihoods of 1,800 employees.

Heineken's press service emphasized that the company will neither endorse these brands nor receive any financial gains, including income, royalties, or dividends, from its operations in Russia. In a not-so-hoppy ending, Heineken anticipates a cumulative loss of €300 million ($324 million).

You Might Also Like

The Booze Must Flow
  • November 15, 2022

The Booze Must Flow

Russians hankering for foreign alcohol can now rest easy: state ministries will oversee the delivery of international alcohol products through a parallel import system.
A Soviet Callback
  • August 09, 2022

A Soviet Callback

Moscow and St. Petersburg will see new shops filled with international goods where only top officials and their families can shop.
Tipple Tender Trending
  • February 07, 2022

Tipple Tender Trending

The minimum price of vodka, set by Russia's Ministry of Finance, has been raised. Barely.
A Premature Celebration
  • December 06, 2021

A Premature Celebration

A Krasnodar man, sentenced to serve time for theft, marked his release by doing what he does best.
Like this post? Get a weekly email digest + member-only deals

Some of our Books

White Magic
June 01, 2021

White Magic

The thirteen tales in this volume – all written by Russian émigrés, writers who fled their native country in the early twentieth century – contain a fair dose of magic and mysticism, of terror and the supernatural. There are Petersburg revenants, grief-stricken avengers, Lithuanian vampires, flying skeletons, murders and duels, and even a ghostly Edgar Allen Poe.

Fish
February 01, 2010

Fish

This mesmerizing novel from one of Russia’s most important modern authors traces the life journey of a selfless Russian everywoman. In the wake of the Soviet breakup, inexorable forces drag Vera across the breadth of the Russian empire. Facing a relentless onslaught of human and social trials, she swims against the current of life, countering adversity and pain with compassion and hope, in many ways personifying Mother Russia’s torment and resilience amid the Soviet disintegration.

Davai! The Russians and Their Vodka
November 01, 2012

Davai! The Russians and Their Vodka

In this comprehensive, quixotic and addictive book, Edwin Trommelen explores all facets of the Russian obsession with vodka. Peering chiefly through the lenses of history and literature, Trommelen offers up an appropriately complex, rich and bittersweet portrait, based on great respect for Russian culture.

A Taste of Chekhov
December 24, 2022

A Taste of Chekhov

This compact volume is an introduction to the works of Chekhov the master storyteller, via nine stories spanning the last twenty years of his life.

Murder at the Dacha
July 01, 2013

Murder at the Dacha

Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.

At the Circus
January 01, 2013

At the Circus

This wonderful novella by Alexander Kuprin tells the story of the wrestler Arbuzov and his battle against a renowned American wrestler. Rich in detail and characterization, At the Circus brims with excitement and life. You can smell the sawdust in the big top, see the vivid and colorful characters, sense the tension build as Arbuzov readies to face off against the American.

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955