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The National Agency on Corruption Prevention(NACP) accuses global alcohol giant Bacardi of maintaining its business operations in Russia despite the Ukraine conflict, contrary to their publicized commitment to ceasing exports and investments.
The NACP, responsible for developing anti-corruption policies and preventing corruption in Ukraine, issued a statement highlighting Bacardi's active pursuit of employees and ongoing supply of products to the Russian Federation, despite previous announcements of ceasing exports and advertising investments in Russia.
Following the Russian invasion of Ukraine, Bacardi initially pledged to halt its operations in Russia; however, the NACP alleges that this commitment mysteriously disappeared from the company's official statement.
Bacardi, known as one of the world's largest alcohol producers with over 200 trademarks, including Bacardi, Dewar's, Grey Goose, and Bombay, continued to generate substantial revenue in the Russian market, with its net profit spiking by 206.5% in 2022, reaching approximately $1.85 billion.
With the diminished competition in the Russian alcohol market, Bacardi Russia's revenue surged by 8.5% to RUB 32.6 billion (approx. $12.88 billion), resulting in an income tax payment of over $12 million to Russia, according to official reports. The NACP criticizes the inconsistency between Bacardi's declarations and its actions, emphasizing the company's lucrative financial ties to the Russian Federation during the war in Ukraine.
In response to the allegations, Bacardi's website states that their utmost priority is ensuring their employees' safety and well-being, particularly those directly affected by the Ukrainian conflict. The company asserts that it supports Ukraine through essential resources and services.
Despite these claims, the NACP maintains that Bacardi's continued product supply to Russia amounting to millions of dollars contradicts their stated commitment.
The Russian division of Bacardi Rus reportedly imported goods worth $169 million during the war in Ukraine, resulting in significant tax contributions to the Russian budget.
As tensions persist between Ukraine and Russia, Bacardi's controversial business dealings raise questions about multinational corporations' ethical considerations and responsibilities during the geopolitical conflict.
Photo: Anders Nord/Unsplash
