PepsiCo has announced its decision to suspend the sale of beverages in Russia.

"Given the horrific events occurring in Ukraine we are announcing the suspension of the sale of Pepsi-Cola, and our global beverage brands in Russia, including 7Up and Mirinda. We will also be suspending capital investments and all advertising and promotional activities in Russia," PepsiCo said in a statement on its website.

The American beverage and food company "must stay true to the humanitarian aspect" of its business, and, therefore, will continue to sell its other products in Russia, including milk and other dairy offerings, baby formula and baby food.

PepsiCo is also suspending its capital investments and all advertising and promotional activities in the Russian market.