Ukraine adds Bacardi as 'official sponsors of war'. Read the full list HERE

Ukraine’s National Corruption Prevention Agency (NACP) on Thursday included Bacardi Limited, the world’s largest private alcohol company, in the list of “Official sponsors of War.” Despite the ongoing war between Russia and Ukraine, the Bermudian corporation continues to conduct business operations in Russia, according to a Kyiv Independent report. According to War and Sanctions, apart from Bacardi, there are reportedly 32 other global entities including DP World, Unilever, Zhejiang Geely Holding Group, Dahua Technology, Kerui Group, Hikvision, Mondelēz International, Inc., CK Birla group, OTP Bank, Great Wall Motor, Xiomi Corporation, SLB (former Schlumberger), China State Construction Engineering corporation, Yves Rocher, Raiffeisen Bank International, Buzzi Unicem, Metro, Auchan, COMNAV Technology Ltd., P&G(Procter & Gamble), Bonduelle, Liberian International Ship & Corporate Registry, eKassir, Mondi group, Danieli, OpenWay Group, Meroy Merlin, Dynacom Tankers Management Ltd., Delta tankers Ltd., Thenamris Ships Management, Minerva Marine Inc. and TMS Tankers Ltd. After Russia’s complete invasion, Bacardi Limited initially declared its intention to halt exports to Russia and cease investment in advertising for the Russian market. This commitment, however, was later retracted from the original statement, as outlined in NACP report. Notably, the company sustained the supply of its merchandise worth millions of dollars to Russia and actively recruited new staff. The NACP commented, “This means that Bacardi Limited is still contributing significant tax revenue to Russia’s treasury, bolstering its economy, and indirectly endorsing hostilities against Ukraine.” Following February 24, 2022, numerous prominent global brand owners withdrew from the Russian alcohol market. This exodus led to decreased competition and presented opportunities for those that remained. According to the anti-corruption agency, Bacardi’s Russian branch, known as Bacardi Rus, “capitalized on the circumstance,” having imported goods worth $169 million within the initial year of the extensive conflict. Statistics provided by Russia’s Federal Tax Service revealed that Bacardi Rus’ revenue escalated by 8.5%, amounting to 32.6 billion rubles (approximately $33 million) in 2022. Concurrently, net profits surged to 4.7 billion, indicating a substantial 206.5% surge compared to 2021. The NACP also noted that in the previous year, Bacardi Limited contributed over $12 million in income tax to Russia’s national budget. Bacardi Limited boasts a portfolio of over 200 brands and labels, encompassing Grey Goose, Bombay, and Martini. With a presence in more than 170 nations, the company is renowned for its flagship product, Bacardi rum – the world’s most popular rum brand.