Carlsberg has fallen to a £4.7bn loss after the Kremlin took over its Russian business.
Carlsberg's Russian unit Baltika Breweries was seized by Russian authorities last year after the Danish brewer tried to sell Baltika Breweries and leave the country.
The brewery announced on Tuesday that the incident had cost it an annual loss of 40.8 billion Danish kroner (about £4.7 billion).
Before the seizure, Carlsberg employed about 8,400 people in Russia and was considering a sale amid pressure on consumer brands to exit the country following the invasion of Ukraine.
Former CEO Cees Hart said at the time that there was “no indication” why the Russian state took over.
Current chief executive Jakob Arup Andersen previously accused Russia of “stealing” the business.
“Of course, we are taking every legal and business measure possible in terms of protecting our business and protecting our employees and assets,” he said Wednesday.
The seizure of Carlsberg's Russian operations comes amid President Vladimir Putin's crackdown on Western-owned assets in Russia. This is a response to economic sanctions imposed by Western countries.
The Russian subsidiary of French yogurt maker Danone was also seized after President Vladimir Putin signed a decree giving authorities new powers to buy Western companies.
