Ukraine’s largest confectionery company, owned by President Petro Poroshenko, plans to close its only factory in Russia, saying it had become impossible to do business there because of trade restrictions and anti-Ukrainian sentiment.
The Lipetsk plant in western Russia has seen production decline since March 2014 when Moscow annexed Ukraine’s Crimea peninsula and pro-Russian rebels rose up in eastern Ukraine. It has experienced raids by armed police and was hit by a freeze on its assets in April 2015.
