Coca-Cola HBC (Coca-Cola Hellenic), Coca-Cola's distributor in Russia, has announced that it will no longer produce and sell Coca-Cola and other brand drinks in Russia, Reuters reports.

"Once the company's reserves are depleted, Coca-Cola HBC "will no longer manufacture or sell Coca-Cola or other Coca-Cola Company brands in Russia," the distributor said.

In early May, The Coca-Cola Company COO James Quincey said that the company's business in Russia "will completely disappear at some point" if the fighting in Ukraine drags on. At the same time, Quincy questioned the influence of the actions of companies such as Coca-Cola on the decisions of governments, including Russia's. “The symbolism [of such moves] is important, but it won’t be the deciding factor,” Quincy said.

In Russia, Coca-Cola HBC, in addition to Coca-Cola, produces Fanta, Sprite, Powerade, Schweppes, Burn, BonAqua water, Dobry juice, Pulpy, Rich, Moya Semya, Innocent and other products. Coca-Cola HBC Russia is part of the Coca-Cola HBC group, which is one of the largest beverage producers under The Coca-Cola Company brands. There are 10 factories of the company in Russia.

At the same time, the Moscow region producer of alcoholic and non-alcoholic beverages Funky Monkey launched the production of analogues of well-known foreign brands of soda Coca-Cola and Fanta, Rossiyskaya Gazeta reports , citing Georgy Filimonov, Deputy Chairman of the Government of the Moscow Region.

“Megapack, located in the city district of Vidnoye, has launched the production of highly carbonated drinks under the Funky Monkey brand, to replace Coca-Cola and Fanta drinks produced by the American Coca-Cola Corporation,” Filimonov said.

According to him, the cost of Russian analogues will be 10-15% lower. The company produces drinks in aluminum cans, plastic and glass bottles. However, the new product line is still available in aluminium.

The manufacturer of the new soft drink claims that Funky Monkey tastes exactly like Coca-Cola and Fanta.