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Which global companies left Russia and why: list

'30.03.2022'

Nurgul Sultanova-Chetin

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Giant global companies in every sector are leaving Russia after invading Ukraine, reports Axios.

Why it matters: In addition to condemning the invasion, companies see an impossible environment to operate, from worker safety to supply logistics, financial and trade disruptions, and the difficulty of enforcing sanctions.

On the subject: Flight from New York may break the world record for the duration due to the need to fly around Russia

Status: Financial sanctions isolated Russia from the rest of the world. Businesses operating in Russia have increasingly limited opportunities to collect revenue or pay workers and suppliers.

  • Economic sanctions, including export controls, have reduced imports.
  • Some workers were taken out of Russia.
  • Airspace and travel restrictions prevent companies from getting the equipment they need to continue working.

Between the lines: Some companies that have very little physical presence in Russia — including many in technology, retail and media — are restricting or withdrawing their products in Russia.

Flashback: Since the collapse of the Soviet Union three decades ago, Russia has been seen as an emerging market with long-term growth potential.

Since the beginning of the invasion:

  • Company Yum Brandsthe parent company of KFC and Pizza Hut, has suspended operations and investments in Russia.
  • McDonald's announced the temporary closure of all its restaurants in Russia.
  • Starbucks suspended all activities in Russia.
  • The Coca-Cola Company suspended its activities in Russia.
  • Deloitte stated that "won't work anymore in Russia and Belarus" and "separate activities" in the two countries "from the global network of member firms".
  • Ernst & Young Company severed ties with Russia, closing its business for 4700 people in the country.
  • PricewaterhouseCoopers severed ties with its Russian branch, affecting 3700 partners and employees in the country.
  • KPMG terminates cooperation with its 4500 partners and employees in Russia and Belarus.
  • Estée Lauder stated that suspends “all commercial activity in Russia.
  • Boeing suspended major operations in Moscow, as well as maintenance and support of Russian airlines.
  • Airbus ceases Delivery spare parts and services for Russian airlines.
  • Shellsevered ties with Russian gas giant Gazprom and stopped financing the gas pipeline "Nord Stream - 2" worth about $1 billion. Company donated profits from the recent purchase of Russian crude oil to help Ukrainian refugees.
  • BP out with nearly 20% stake in the Russian oil giant "Rosneft" and is facing a potential financial hit of $25 billion.
  • Exxon Mobil saidthat comes out of the oil and gas industry of Russia worth more than $4 billion and is halting new investments.
  • gm, which sells only about 3000 cars a year in Russia, suspended export of vehicles.
  • Ford suspended job.
  • BMW stopped deliveries and will stop production in Russia.
  • Daimler Truck Holdings saidthat it will no longer supply parts to its Russian joint venture partner.
  • Volvo Cars, owned by the Chinese conglomerate Zhejiang Geely, ceased saleи Delivery.
  • Renault ceased operations and production at two assembly plants because can't get parts.
  • VWsuspended delivery cars Audi is already in Russia to adjust car pricesto reflect the depreciation of the ruble.
  • Harley-Davidson suspended deliveries to Russia.
  • Adidassuspended cooperation with the Russian Football Union.
  • Nikestopped online salesbecause it cannot guarantee delivery.
  • FedEx and UPS suspended deliveries.
  • Yoox Net-A-Porter Groupи farfetch, luxury e-commerce platforms suspend deliveries in Russia.
  • Apple Lossless Audio CODEC (ALAC), suspended product sales and restricted services (including Apple Pay) in addition to stopping exports to Russia and restricting features in Apple Maps in Ukraine to ensure the safety of civilians.
  • Dell ceased sell products.
  • Ericssonsuspended deliveries to Russia.
  • Walt Disney suspended screenings of film premieres in Russia. Warner Bros., Sony, Paramount и Universal declare that they will not release films in the country.
  • Sony also suspended the sale of gaming consolePlayStation in Russia and PlayStation Store in Russia. Sony also suspended activities Sony Music Group in Russia.
  • Ikea closes its Russian stores and suspends all exports and imports to the country and also to the ally country of Belarus.
  • airbnb said, which "suspends all operations in Russia and Belarus."
  • Google paused all online advertising in Russia.
  • Microsoft suspended all new sales of their products and services in Russia.
  • Hermès temporarily closed all its shopsin Russia.
  • Visa,MasterCard и American Express suspended all Russian operation.
  • Amazon Web Services no longer accepts new clients from Russia and Belarus.
  • Uniqlo owner, Fast Retailing, temporarily suspended activitiesin Russia.
  • Hitachi Group suspends exports to Russia and suspends production in the country. The exception, according to the company, are products that are "indispensable for people's daily lives" in Russia.
  • Nintendo confirmed that it will suspend the delivery of all Nintendo products to Russia, citing “volatility around the logistics of shipping and distribution of physical goods.”
  • Warner Music Group suspended all activities in Russia.
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