UPDATED LIST OF WOKE CORPORATIONS PULLING OUT OF RUSSIA SINCE INVASION OF UKRAINE​

The invasion of Ukraine by Russia is leading some of the world’s best-known brands to​ exit a country that has become a global outcast.  With the obligation of complying with Western sanctions against Russia, these companies are increasingly aware of the potential risk of continuing with business as usual with Russia.

Many corporations are feeling the responsibility of pulling back, as they are expressing concern about the plight of the Ukrainians as the war takes a mounting toll on civilians and displacement of more than 2 million people as of Monday.

The following is a current list of companies that have scaled back or cut back completely as of Monday:

Airbnb Online housing service that has paused all operations in Russia and its close ally Belarus.

Airbus Airplane manufacturer stopped supplying parts and service for Russian carriers.

American Express Suspended operations in Russia and blocking transactions for Russian banks targeted by sanctions.

Apple Said it would stop selling its iPhones and other devices to retailers as they have no stores of their own there. They suspended Apple Pay in Russia and removed Sputnik and RT, two government-backed news organizations, from the App store outside Russia. Has limited data-sharing on Apple Maps in Ukraine.

Boeing Stopped all supplies of parts and service for Russian carriers. Suspended major operations in Moscow and has temporarily closed its Kyiv office. Put on hold 62 aircraft ordered by Russia.

British Petroleum (BP) Calling itself Russia’s largest foreign investor, said Sunday that it would abandon its nearly 20% stake in Russian state-owned oil and gas company Rosneft. The move could cost BP anywhere from $14 billion to $25 billion, according to Reuters.

Budvar Czeck brewer, claiming Russia is one of five major markets, halted beer deliveries in the country, saying business is not top priority, and will aid in finding accommodations for Ukrainian refugees.

Carlsberg Copenhagen-based Danish brewery group suspended production at two breweries in Ukraine. Made no comment on its extensive Russian operations, including St. Petersburg-based Baltika Breweries, which exports beer worldwide.

Daimler Truck Germany based Daimler has suspended deliveries of truck components to its Russian partner Kamaz. They tweeted Monday, “We have decided to discontinue our business activities in Russia with immediate effect until further notice.”

Dell Dell Technologies has “suspended” sales in both Ukraine and Russia.

Disney Walt Disney on Monday said it would pause release of its films in Russian theatres, including the upcoming “Turning Red” from Pixar. The entertainment giant stated, “We are working with our NGO partners to provide urgent aid and other humanitarian assistance to refugees.” 

Equinor Norway’s largest energy company said Monday it would begin withdrawing from its joint ventures in Russia, valued at about $1.2 billion. In a statement Anders Opedal, President and CEO said, “We are deeply troubled by the invasion of Ukraine, which represents a terrible setback for the world.”

Exxon Exxon Mobile said Wednesday it would pull out of a key oil and gas project, Sakhalin-1 and halt any new investments in Russia.

Ford Motor Company Suspended operations in Russia as they have a minority stake in a joint venture with PJSC Sollers, which focuses on commercial van manufacturing, and they said they informed their JV partners they were suspending operations in Russia, effective immediately.

Google Has blocked Russian state media channels from its platforms, including Google Play store. It has suspended Google pay for customers of sanctions-hit Russian banks, meaning customers of those banks won’t be able to use the mobile payment system.

Harley Davidson Halted motorcycle shipments to Russia, saying its thoughts “continue for the safety of the people of Ukraine.” Putin famously rode a three-wheeled Harley on a visit to Ukraine in 2010.

H&M Group  The fast-fashion chain said last week it would “temporarily pause all sales in Russia.” All of its Ukraine stores have been closed for safety reasons. They said, “We are deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering.”

Ikea The Swedish furniture company said it was closing all of its Russian stores and pausing sourcing from Russia as well as Belarus, an ally of Russia.

Mastercard  Suspended operations in Russia and blocking transactions for Russian banks targeted by sanctions.

Mercedes-Benz Suspended exports of cars and vans to Russia and ceased its manufacturing there late last Wednesday. It will keep working with suppliers in Ukraine, who provide some components for its vehicles, Market Watch reported.

Meta Formerly known as Facebook, hasblocked access to Russian state-controlled outlets across the European Union after it “received requests from a number of Governments and the EU,” the company’s policy head Nick Clegg said on Monday. 

Netflix Said Sunday that “given the circumstances on the ground, we have decided to suspend service in Russia.

Nike Said it would temporarily shut down all its stores in Russia, a move that followed the sportswear company make purchases on its website and app unavailable in Russia.

Renault One of the largest players in Russia’s auto market, said it’s temporarily suspending production at its Moscow plant through Saturday “due to some logistics issues,” without being more specific. 

Shell Said Monday it was leaving its joint venture with state-owned Gazprom and ending its involvement in the now suspended Nord Stream 2 pipeline built to carry natural gas to Western Europe. The move could cost the company as much as $3 billion in assets.

TikTok   Has blocked Russian state media channels from the platform, including RT and Sputnik. On Sunday, TikTok said it would be suspending livestreaming and posting of new content in Russia.

TJX Companies  Owns U.S. chains Marshall’s, TJ Maxx and Home Goods, plans to sell its 25% stake in Russian apparel retailer Familia. TJX does not have sales in Ukraine or Russia, it said in a regulatory filing. TJX’s stake was worth $186 million before the Russian ruble’s precipitous fall.

Toyota Said starting Friday it is halting production at its St. Petersburg plant that makes RAV4 and Camry models because of supply-chain disruptions. Also said they were watching events “with great concern for the safety of the people of Ukraine.”

Visa Said on Saturday that they were suspending their operations in Russia, days after blocking transactions for Russian banks targeted by U.S. and European sanctions. Visa and Mastercard’s suspensions were announced within 16 minutes of each other, and they followed a private video call earlier in the day between President Volodymyr Zelensky of Ukraine and U.S. lawmakers. During that conversation Zelensky “asked for MasterCard and Visa to be turned off for Russia.”

Volkswagen The Volkswagen Group, whose auto brands include Audi, Ducati, Skoda, and Porsche, on Thursday said it would stop production of two factories in Russia as well as halt exports to the country immediately. Affected Russian workers would receive paid leave from the company, Volkswagen said.

Volvo Sweden’s Volvo Cars said it stopped deliveries because of “potential risks associated with trading material with Russia,” including Western sanctions.

For many companies, exiting Russia is as much about business as it is about morality. “It’s really tough to do business in Russia under the best conditions. Now it’s become just crazy. So, getting out is a smart business proposal,” said James O’Rourke, professor of management at the University of Notre Dame’s Mendoza College of Business, who specializes in reputation management and business communications.

O’Rourke added, “This is like going into business with the Manson family,” referring to the followers of cult leader Charles Manson. “You honestly do not want your name associated with those people, and it’s probably not going to cost you that much to disinvest.”

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Sheila Sure
Sheila Sure
2 months ago

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MildredBaker
MildredBaker
2 months ago

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