Bacardi recognised ‘international war sponsor’ in Ukraine
The national agency on corruption prevention (NAZK), Ukraine’s anti-graft office, has designated Bermuda-based spirits company Bacardi Limited an international war sponsor, it said in a statement on Thursday.
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NAZK’s decision followed a publication in the Wall Street Journal, which revealed that Bacardi continues operating in Russia and recruiting new employees despite pledging to quit the Russian market.
"After Russia's full-scale invasion of Ukraine, Bacardi announced that it would stop exports to Russia and stop investing in advertising, but later this part of the statement disappeared from its official statement," the agency said.
"Thus, the company continued to supply its products to Russia for millions of dollars and to look for new employees by publishing job postings."
In 2022, the profit of Bacardi's Russian subsidiary, Bacardi Rus, tripled from 1.5 billion rubles to almost 4.7 billion rubles, which is almost USD 50 million at the current exchange rate.
Bacardi's Russian business continues to grow as other booze makers leave the market.
Bacardi owns such alcohol brands as Baron Otard, D'USSÉ; Bombay gin; Bacardi rum; Cazadores tequila; Grey Goose vodka, Eristoff; Dewar's, William Lawson's, Aberfeldy, Aultmore, Royal Brackla, Craigellachie, Angel's Envy whiskeys, and other drinks (Martini, St-Germain, Bénédictine).
The list of international sponsors of war is a reputational tool. The designated companies are also included in the World-Check database, which keeps track of high-risk individuals and organisations and is used globally to identify and manage financial, regulatory and reputational risks.
Previously, such well-known companies as Metro, Procter & Gamble, Auchan Holding, Bonduelle and, most recently, Unilever were also listed.