Carlsberg would rather lose its Russian business than negotiate a deal with Moscow, and it shows how hard it is for companies to exit the market

• The CEO of Danish brewer Carlsberg says Moscow has “stolen” its business in Russia.
• Moscow seized Carlsberg’s assets in July, weeks after the brewer announced it had found a buyer for its Russian business.
• Carlsberg said it’s cutting ties with its Russian business as it can’t find an acceptable solution to resolve the issue.

Danish brewer Carlsberg operates eight breweries and employs more than 8,000 people through its Russian unit, Baltika Breweries. But, as of early October, the brewer has had it: It has ended its relationship with Baltika Breweries.

“There is no way around the fact that they have stolen our business in Russia, and we are not going to help them make that look legitimate,” Carlsberg CEO Jacob Aarup-Andersen said on a call on Tuesday after posting third-quarter earnings.