‘Russia won’t drag this out’: Anadolu Efes’ joint venture’s future to be decided in January

Izzet Ekmekcibasi, chairman of the Türkiye-Russia Business Council, affiliated with Türkiye’s Foreign Economic Relations Board, reassured Turkish companies operating in Russia that there is no need to panic following the trustee appointment at Anadolu Efes’ joint venture, AB InBev Efes BV.

“The issue stems from companies in Russia that are tied to Western countries imposing sanctions, not Turkish firms,” Ekmekcibasi stated during an interview with business-focused patronlardunyasi.com, expressing his belief that positive news will emerge for AB InBev Efes BV.

“There’s no action specifically targeting Turkish companies,” Ekmekcibasi said. He also dismissed the notion of a direct political or commercial motive against Türkiye. Ekmekcibasi, who heads Gentes—a company with an extensive portfolio of malls, hotels, hospitals, residential, and industrial facilities in Russia—further explained:

The main issue lies with Western firms under sanctions. The decision on AB InBev Efes BV reflects Russia’s response to these sanctions. Companies without Western partners are not affected.

Izzet Ekmekcibasi, Chairman of the Türkiye-Russia Business Council

‘We expect positive news for Anadolu Efes’

Ekmekcibasi expressed optimism about resolving the issue, stating, “Anadolu Efes and other Turkish companies are highly regarded by both President Vladimir Putin and the Russian business community. The issue doesn’t directly concern Anadolu Efes itself but stems from a partnership-related share transfer application that wasn’t approved by the Russian side. If it had been approved, there would’ve been no problem. They’ll revisit the matter soon.”

Ekmekcibasi also emphasized the timing’s importance, with spring and summer approaching—peak seasons for beverage sales. “Orders need to be placed, and purchases made. I trust the Russian government won’t prolong the issue,” he remarked.

“I anticipate official announcements from both sides after January 15,” Ekmekcibasi concluded.

Putin had temporarily appointed a trustee to AB InBev Efes BV, Anadolu Efes’ joint venture with Belgian AB InBev on Dec. 30, handing over the company to an entity called “GK Vmeste.”

With prominent Turkish firms like Ant Yapi, Ronesans Holding, Hayat Holding, and Arcelik heavily invested in Russia, the uncertainty surrounding the recent developments has sparked further discussions. Turkish brands are active across various sectors in Russia, including retail and construction.