United Russia lawmaker moves to take over Russian Coca-Cola assets holding more than €1 billion in cash
Bochkari, an Altai Territory beverage producer owned by Vadim Smagin, a United Russia deputy in the regional parliament, asked Vladimir Putin to place Coca-Cola’s Russian business – Multon and Multon Partners, which produce the soft drinks Dobry, Rich, and Moya Semya – under its temporary management. The consolidated value of this business is estimated at 245 billion rubles ($3 billion). As The…
Vadim Smagin, a deputy in the Altai Territory Legislative Assembly and member of United Russia, has submitted a proposal to President Vladimir Putin to temporarily manage Russian Coca-Cola assets holding over €1 billion in cash. The proposal, sent in mid-October, seeks to take control of Multon and Multon Partners, which produce soft drinks such as Dobry, Rich, and Moya Semya.
As of July 2026, the Russian subsidiaries of Coca-Cola HBC, including Multon, held €1.04 billion in cash and cash equivalents, marking a 22.4% increase from the end of 2025. Smagin claims that the foreign ownership negatively impacts the Russian economy and tax revenues, as well as supports Ukraine and restricts participation of Russian athletes in international sports events.
If given management, Bochkari plans to invest in Russian-occupied territories of Ukraine and fund charitable programs. Despite the proposal, authorities have not yet decided on the matter.
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