The bottling partner of Coca-Cola in Central and Eastern Europe and Africa made this known in a statement on Thursday, acknowledging recent speculation surrounding its business interests in Russia.
The company said its Russian operations had been functioning independently since 2022, adding that it had not received any communication indicating a change in their status.
The clarification followed a report by Russian newspaper Kommersant, which cited sources as saying that Bochkari, a Russian beer and soft drinks manufacturer, had last month submitted a request to Putin seeking external management of the assets of Multon Partners LLC and Multon JSC.
According to the newspaper, information from the SPARK corporate database identifies Switzerland-based Coca-Cola HBC as the parent company of Multon Partners LLC. However, the shareholders of Multon JSC were not disclosed.
Kommersant further reported that Bochkari had requested to be appointed temporary administrator of the assets, adding that the proposal had received "the partial backing" of some deputy prime ministers.
Responding to the development, Coca-Cola HBC sought to clarify its financial exposure to the Russian market, stating that its operations in the country were not essential to financing its wider international business.
The company said it does not rely on income or capital from its Russian business to fund operations outside Russia or service its debt.
Coca-Cola HBC bottles and distributes Coca-Cola products across 28 markets and is 21 per cent owned by The Coca-Cola Company, according to information on its website.
The development comes amid continued pressure on foreign-owned businesses operating in Russia following the country's 2022 invasion of Ukraine, which triggered Western sanctions and prompted several multinational companies to scale back or withdraw their operations.
In a related development on Thursday, Putin signed a decree ordering the temporary seizure of the Russian assets of Japan Tobacco International, marking another instance of foreign business interests coming under state control.
The latest move highlights the growing uncertainty facing international companies with investments in Russia, as the government continues to intervene in the operations of foreign-owned businesses.