Global companies with exposure to Russia braced for sanctions impact

Meanwhle, Germany said it needs to reduce its “one-sided” dependence on Russian gas

Some of the world's largest consumer-facing companies - from Nestlé and Danone, to Coca-Cola HBC, Volkswagen and Renault - are preparing for western sanctions on Russia over the Ukraine crisis.

International companies with exposure to Russia are preparing for the West to impose fresh sanctions on the country after an escalation in the Ukraine crisis.

The world’s largest food company Nestlé – which has factories in Russia – said it is “closely monitoring” the situation and has business continuity plans “in place” that can be “activated as needed”.