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Coca-Cola, Pepsi pause business in Russia

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Competitors Coca-Cola and PepsiCo announced they would temporarily stop doing business in Russia.

"Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine," Coca-Cola officials said. "We will continue to monitor and assess the situation as circumstances evolve."

Pepsi has sold products in Russia for more than six decades.

Read more from CNBC.

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