Which companies have withdrawn from Russia? Here is a list.

After the Russian President, Vladimir V. Putin ordered the invasion of Ukraine on February 24, the multinationals were forced to re-exa...

After the Russian President, Vladimir V. Putinordered the invasion of Ukraine on February 24, the multinationals were forced to re-examine their ties with Russia. Some, like McDonald’s, PepsiCo and Shell, had built relationships with the country over decades and faced complicated deals to unravel.

Under pressure from investors and consumers, many Western companies have begun to unwind their investments, close stores and suspend sales in Russia. Here are some of the actions they announced:

  • Unileverwhich owns brands like Dove and Sunsilk, suspended imports and exports.

  • So done Ikeaalthough it will continue to operate its main mall chain, Mega, in Russia to ensure customers have access to the essentials.

  • TJXthe owner of TJ Maxx and Marshalls, has promised to divest its stake in Familia, an off-price retailer with more than 400 stores in Russia.

  • H&M, which had about 170 stores in Russia, suspended sales, as did Nike, with about 116 stores.

  • Canada Goosewhich is based in Toronto, will cease wholesale and online sales to Russia.

  • Adidas said it would suspend sales in Russia, cutting its expected revenue growth this year by 1%. The company has about 500 stores in Russia and the former Soviet states.

  • Shell will exit its joint ventures with Gazprom, the Russian natural gas giant.

  • PB will offload its nearly 20% stake in Rosneft, Russia’s state-controlled oil company.

  • Exxon Mobil will end its involvement in a major oil and gas project.

  • American Express, Mastercard and Visa cards issued by Russian banks will not work in other countries and cards issued elsewhere will not work for purchases in Russia.

  • Citigroup, which has about 3,000 employees in Russia, said it would “assess our operations in the country.” Citi’s consumer division in Russia runs limited operations and the company is up for sale as part of a broader exit from overseas markets announced last year.

  • The big four accounting firms — Deloitte, EY, KPMG and PwC – withdraw from the country.

  • The consulting firm Bath said it would not work with any Russian company and that he had a policy in place in 2020 “would not work for the Russian government at any level – central, state or departmental”. McKinsey & Company said he would not accept any new work in Russia, that he would stop working for public entities and “will no longer serve any government entity in Russia.” Boston Consulting Group will not accept any new clients in Russia and has “started to reduce work as much as possible and will not accept any new work”, he said. McKinsey and Boston Consulting Group said they had no contract with “the central government”.

  • McDonald’s said it was temporary closure its nearly 850 locations in Russia and halting its operations there.

  • Starbucks said it was closing all of its sites in Russia, where they are owned and operated by the Kuwaiti conglomerate Alshaya Group.

  • PepsiCo said it would stop selling soda in Russia but would continue to produce dairy and baby food there, calling it a “humanitarian” effort.

  • Yum Brands closes 70 companies KFC Restaurants and the 50 franchisees Pizza Hut Restaurants.

  • Little Caesars is suspending all operations in Russian stores, which are owned by franchisees.

  • Amazon Web Services stopped accepting new customers for its cloud computing services.

  • google suspended publicity, including on its research and Youtube some products.

  • Microsoft and Apple sales on hold. IBM business suspended.

  • Convincing and Lumen, which provide so-called backbone Internet services, cut off access.

  • Uber said it was trying to “accelerate” its divestment from Russian internet company Yandex, which operates a ride-sharing service.

  • Sony, which makes the PlayStation video game console, said it has “suspended all software and hardware shipments” to Russia, as well as the operation of the PlayStation Store in the country.

  • UPS, FedEx and DHL suspended shipments and operations in Russia and Belarus.

  • Airbus and Boeing suspended the supply of parts, maintenance services and technical support to Russian airlines. Boeing also said it had stopped buying titanium from Russia, a key source of the metal for the aerospace industry.

  • American Airlines, Delta Air Lines and United Airlines have severed their ticket sales partnerships with Russian airlines. All three airlines also stopped flying over Russia.

  • Amadeus and Saber, which provide ticketing technology to airlines, severed ties with Aeroflot, Russia’s flag carrier and largest carrier.

  • Hyatt and hiltonhotel chains, suspended development work in the country and Hilton closed its Moscow headquarters.

  • caterpillarwhich makes construction and earthmoving equipment, is suspending its manufacturing in Russia.

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Newsrust - US Top News: Which companies have withdrawn from Russia? Here is a list.
Which companies have withdrawn from Russia? Here is a list.
Newsrust - US Top News
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