HomeLatestList of All Companies that Suspended Operations in Russia

List of All Companies that Suspended Operations in Russia

The response to Russia’s invasion of Ukraine has been very swift and crushing. Not only governments across the world are severing ties with Russia, but also many companies are rapidly closing their business operations across Russia.

Because of economic sanctions imposed by the US and its allies, the Russian currency Ruble is depreciating very fast forcing Russians to buy imported consumer goods. This move has surprised many veteran observers who closely monitor these events.

Mary Lovely, a senior fellow at the Peterson Institute for International Economics in Washington said, “You basically have Russia becoming a commercial pariah. Pretty much no company, no multinational, wants to be caught on the wrong side of U.S. and Western sanctions.”

List of Companies that suspended their services in Russia?

Companies that are sitting on the sidelines or yet to join the ban are facing wrath across social media, wherein hashtags like #BoycottMcDonalds and #BoycottPepsi are trending on the microblogging social media platform, Twitter.

Ever since Russian President Vladimir Putin ordered a special military operation in Ukraine on 24th Feb, some of the world’s best-known companies from Apple to Disney and Ikea are exiting their business operations from Russia.

James O’Rourke, professor of management at the University of Notre Dame’s Mendoza College of Business, said, “It’s really tough to do business in Russia under the best of conditions. Now it’s become just crazy. So getting out is a smart business proposal.”

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

Here is the complete list of global companies across different sectors that have cut ties with Russia and scaled back their business operations as of March 2022. Check them out below!

Automobiles:

Many leading global automobile manufacturers like Audi, Volvo, Jaguar, Land Rover, BMW, Mercedes, Harley Davidson, Citroen, General Motors, Ford, and Skoda have left the Russian automobile market.

Ford released a statement stating, “Given the situation, we have today informed our JV partners that we are suspending our operations in Russia, effective immediately, until further notice”.

It added, “While we don’t have significant operations in Ukraine, we do have a strong contingent of Ukrainian nationals working at Ford around the world and we will continue to support them through this time.”

Semiconductors/Hardware :

Dell Technologies has suspended business operations in Russia and Ukraine.

The world’s largest semiconductor manufacturers Intel and AMD have stopped supplying components to Russia

IT Companies :

Leading US multinational tech companies like Adobe, Google, Microsoft, Apple among a few others have closed their Russian business operations.

Search engine giant Google Inc has suspended Google Pay for customers of Russian banks, which implies customers of those banks will not able to make payments through Gpay.

Social Media Apps:

Some of the world’s popular and largest social media platform companies like YouTube, Instagram, Facebook, Twitter, TikTok have blocked access to Russian state-controlled outlets.

Telecom Companies:

Nokia, Samsung, Ericsson have also announced the suspension of business operations in Russia.

Retail:

Many retail companies like Sainsbury’s, Mango, H&M, Hermes, M&S, ASOS, Adidas have removed products that are made in Russia and closed their stores in Russia. They have also closed down their operations temporarily in Ukraine because of safety concerns.

Swedish furniture retail company and home furnishing giant, Ikea has closed its 17 stores in Russia and stopped procurement of materials from Russia and Belarus.

Nike has stopped accepting online orders from Russian customers even though their stores are open because of issues related to processing payments in the wake of sanctions levied on Russia.

Apps:

OTT streaming platform, Netflix has suspended all its future film and television projects temporarily. It has denied adding Russian state news channels to its service.

Online marketplace for lodging and stay, Airbnb has also stopped all operations in Russia and Belarus. This will impact Russia’s 90,000 active short-term rentals.

Digital music streaming platform, Spotify has closed its Russian offices indefinitely and deleted state-backed media content from its platform.

Airplanes:

Global Aeroplane manufacturers like Airbus and Boeing have pledged not to support  Russia’s aviation industry. They have suspended maintenance and technical support to Russia.

Oil and Gas:

Even though Russia is the world’s third-largest producer of oil and the second-largest producer of natural gas, many global oil and gas companies like Exxon Mobil, BP, Equnior, Shell have announced the most rapid and dramatic exits.

Luxury Brands:

Many international luxury brands like LVMH, Chanel, Hermes, Inditex (Zara), Burberry, Kering (Gucci), Richemont, Swatch have halted their product delivery to Russia. However, some of their stores are open in a few locations.

Food and Beverages:

Beverage brand Coca-Cola and food-products corporation Danone also made the announcement of leaving the Russian market.

Global Payments companies:

Visa, Mastercard, PayPal have announced to suspend their operations to protest Russia’s invasion of Ukraine.

Consumer Goods:

Carlsberg, Budvar, TJX Cos have stopped supplying goods to the Russian market.

E-Commerce:

Amazon, Canada Goose, Boohoo have closed operations in Russia.

Entertainment:

The major studios of Hollywood Warner Bros., Disney, and Sony also said that they will be halting the release of their new movies in Russia.

TV Channels:

Russian television channel TV Rain (Dozhd) has also stopped its operations with the staff of the news channel resigning on air.

Gaming:

American leading video game company Electronic Arts has joined the bandwagon of companies exiting Russia.

Vanessa Burbano, Associate professor at Columbia Business School said, “Stakeholders like employees and consumers will want to see if companies’ actions and behaviors are consistent with the communicated support that companies are expressing for Ukrainians.”

Amid all this chaos, here is the billion-dollar question for Russian political leaders and for the Russian people: Is the war really worth it?

Please share your thoughts in our comments section below if you think this is the right step by global companies to boycott Russia.

Archana Kabra
Archana Kabra is a Freelance Writer and has been extensively writing stuff related to Entertainment, Lifestyle, and Technology. She is also an ardent music lover. Twitter handle: @archana153sarda
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