Guinness parent company Diageo to withdraw from Russia

Diageo said it will wind down its business operations in Russia over the next six months

"Our focus will remain on supporting our employees in the region and providing them with enhanced redundancy terms, while ensuring we comply with local regulations," a Diageo spokesperson said in a statement.

Diageo, the world's largest spirits maker, will wind down its business operations in Russia over the next six months, it said on Tuesday, becoming the latest Western brand to withdraw.

"Our focus will remain on supporting our employees in the region and providing them with enhanced redundancy terms, while ensuring we comply with local regulations," a Diageo spokesperson said in a statement.