Major companies are pulling their business out of Russia as global economic pressure piles on the country following the invasion of Ukraine.
Governments across the world, including the UK, have imposed sanctions on Russia in a bid to pile pressure on Vladimir Putin to deter further war. Several Western companies have also cut ties with Russia, even if it hurts their profits, the Mirror reports.
On Tuesday McDonald's suspended business in Russia after huge public pressure. But despite the war, some companies have been unwilling to withdraw. So which countries have pulled out and which ones are still operating in Putin-ruled Russia?
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Which companies have pulled out of Russia?
Supermarkets like Tesco, Sainsbury's and Asda have all stopped buying in Russian products to support people in Ukraine, with Sainbury's also changing the name of its Chicken Kiev to the correct spelling of 'Chicken Kyiv'.
Sainsbury’s said: “We stand united with the people of Ukraine. We have reviewed our product range and have decided to remove from sale all products that are 100% sourced from Russia.”
Clothes shops like Next, ASOS and Boohoo have suspended trading in Russia. H&M followed suit, despite around 4% of its sales - the company's sixth-biggest market - coming from Russia.
A notable recent addition to the list is Adidas, which also withdrew its deal with the Russian national football team and announced it would suspend operations in Russia until further notice, though it will continue to pay its employees there. It said: "As a company, we strongly condemn any form of violence and stand in solidarity with those calling for peace."
Dating app Bumble has blocked app downloads in Russia and has removed its app from the Apple App Store and Google Play Store in both Russia and Belarus. In another blow to the Russian economy, four major accounting firms - PwC, KPMG, EY and Deloitte - announced they would withdraw from the country.
PwC's Russian clients reportedly include Sberbank, Gazprom and Russia's central bank.
Companies that have withdrawn, stopped Russian imports or temporarily suspended ties include:
- Adidas
- Apple
- Arc
- Adidas
- Airbnb
- Apple
- Arc
- Asos
- Asda
- BMW
- Boohoo
- BP
- British Gas
- Burberry
- Chanel
- Compare the Market
- Co-op
- Currys
- Dell
- Deloitte
- Disney
- EY
- FA and Fifa
- Fortnum & Mason
- Harrods
- Hermes
- H&M
- HSBC
- Ikea
- Inditex
- JD Sports
- John Lewis
- KPMG
- LMVH
- Mango
- Marks & Spencer
- Mastercard
- McDonald's
- Microsoft
- Netflix
- Next
- Nightcap Group
- Nike
- Nokia
- Papa John's (announced today)
- Paypal
- PwC
- Samsung
- Shell
- Sony
- Sainsbury's
- Sports Direct
- Starbucks
- Uber
- Unilever
- Visa
- Volvo
- Warner
- Wetherspoon
- Yoox Net-a-Porter
- Zara
The likes of Unilever, it is reported by Reuters, is continuing to sell essential products in Russia but is ending any new capital investments.
Which companies are still operating in Russia?
Ukraine’s Foreign Minister Dmytro Kuleba told CNN that “all western companies must withdraw from Russia” and this included the likes of Marriott and Mars.
Jeffrey Sonnenfeld and his research team at Yale University has compiled a list of companies still operating there, or ones that have ties but have not yet confirmed their withdrawal.
They include:
- Arconic
- Bridgestson
- Cargill
- Caterpillar
- Cummins
- Deere
- Dow
- Fast Retailing
- Ferragamo
- Herbalife
- Hilton
- Intercontinental Hotels
- Logitech
- Marriott
- Mars
- 3M
- Mondelez
- Nestle
- Pirelli
The full list can be viewed here.
Fashion brand Uniqlo has 49 stores in Russia at the moment, but fended off calls to withdraw from Russia.
This is despite global condemnation of funding and accusations that participating in the Russian economy means financing Putin's bloody war in Ukraine.
Uniqlo is a subsidiary of Fast Retailing and founder Tadashi Yana said: "There should never be war. Every country should oppose it. Clothing is a necessity of life. The people of Russia have the same right to live as we do."
Brands including Cadbury's owner, Dettol producer Reckitt, and the British American Tobacco (BAT) are among those continuing to trade in the country.
BAT produces Lucky Strike cigarettes. Durex and Cadbury's owner Mondelez also continues to operate there.
McDonald's, who finally announced it would withdraw on March 8, faced huge pressure to stop operations there, as did coffee giant Starbucks.
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