Blood Money: Ukrainian President indicts Nestle, Swiss banks over ‘business as usual’ with Russia

*Ukrainian President Volodymyr Zelenskyy has indicted food giant Nestle, and urged Swiss companies to stop doing business, as well as the Swiss banks to freeze funds belonging to the Kremlin elite by joining his people to ‘fight against evil’

Isola Moses | ConsumerConnect

Amid the continued war instigated by Russia, Ukrainian President Volodymyr Zelenskyy has lamented and indicted multinational corporations, including Nestle for carrying on business as usual with Russia “even though our children are dying.”

Zelenskyy, in a live address to a Swiss rally outside the Parliament in Bern at the weekend, urged Swiss companies to stop doing business in Russia over Ukraine invasion, and charged the European country’s banks to freeze funds belonging to the Kremlin elite and other Russian oligarchs, agency report said.

President Volodymyr Zelenskyy in a video addressing a Swiss rally outside the Parliament in Bern   

The Ukrainian President as well condemned firms that have maintained business as usual despite the siege of Mariupol.

It was learnt the thousands of demonstrators gathered in the square in front of the Federal Palace heard Zelenskyy’s nine-minute speech translated in German, though technical problems interrupted the video from Kyiv.

Zelensky criticised Swiss companies for continuing to do business in Russia, singling out food giant Nestle.

Incidentally, the multinational company’s slogan is “good food, good life”, said Ukrainian President.

According to the President, “business works in Russia even though our children are dying and our cities are being destroyed,” and while people in Mariupol were “without food, without water, without electricity, under bombardment.”

Zelenskyy also lamented that it was “painful” that those behind the conflict had funds stashed in Switzerland.

“The money of the people who unleashed this war is in your banks. Help fight this. So that their funds are frozen,” he said, urging them to join the “fight against evil”.

Zelenskyy called for them to be stripped of their properties and privileges, to cheers from the crowd.

Report also indicates the number of rich Russians resident in Switzerland has grown in recent years.

Swiss President Ignazio Cassis joined Ukrainian and other diplomats on a stage above a banner reading “Solidarity with Ukraine. Stop the war now.”

Cassis reportedly told Zelenskyy: “I’m deeply impressed, dear Volodymyr, from your willingness to resist, from your willingness to go ahead, and from your willingness and the willingness of your population to overcome this terrific crisis.”

The Swiss President stated that he hoped the guns would soon fall silent, and said Switzerland was prepared to mediate or host negotiations.

Yevheniia Filipenko, Ukraine’s ambassador to Geneva, told the crowd in Bern: “What is happening in Ukraine is an attack not only on Ukraine, on Ukrainian people, it’s an attack on all of us.

“We have to work together to ensure that these atrocities stop and will never happen again.”

Filipenko stated: “Thank you, Switzerland, for your help to Ukraine and Ukrainians. Together, we will win.”

PM urges Nestle to sever all business ties with Russia

Meanwhile, Ukrainian Prime Minister Denys Shmyhal also has urged Nestle to sever all business ties with Russia amid the Ukraine-Russia war.

While the Swiss food giant has halted all capital investments and suspended shipments of non-essential goods to the Russia, it is said that the company continues to supply essential food products.

Public pressure is mounting on several multinational companies that have continued operations in Russia, with some firms countering that Russian citizens need essential goods for survival.

Nestle Spokesperson, however, told Bloomberg that “we consider conversations with governmental authorities private. We will continue to do the utmost to deliver food to Ukrainians in the country and to support Ukrainian refugees in many countries.”

Nestle earned $1.8billion in revenue last year from Russia, where it has six factories and over 7,000 employees, which also accounted for about 2 percent of Nestle’s total revenue in 2021, report said.

The food gant was said to have resumed some operations March 3, 2022, in Ukraine in order to support the delivery of essential food and beverage supplies, having shut them down when Russia invaded Ukraine February 24.

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