Giant global businesses in every sector are abandoning Russia following the invasion of Ukraine.
Why it matters: In addition to condemning the invasion, the companies see an impossible environment — from worker safety to the logistics of getting supplies, financial and sales disruption and the complexity of complying with sanctions.
State of play: Financial sanctions have isolated Russia from the rest of the world. Businesses operating in Russia have an increasingly limited ability to collect revenue or pay workers and suppliers.
- Economic sanctions, including export controls, have curtailed imports.
- Some workers were being moved out of Russia.
- Restricted airspace and travel are preventing companies from getting equipment they need to continue to operate.
Between the lines: Some companies that have very little physical presence in Russia — including many in tech, retail and media — are limiting how products are used in Russia or have pulled them.
Flashback: Since the Soviet Union's collapse three decades ago, Russia had been seen as an emerging market with long-term growth potential.
Since the invasion began:
- Yum Brands, the parent company of KFC and Pizza Hut, has suspended operations and investment in Russia.
- McDonald's announced it is temporarily closing all of its stores in Russia.
- Starbucks suspended all activity in Russia.
- Coca-Cola was suspending operations in Russia.
- Deloitte said it "will no longer operate in Russia and Belarus," and "will separate our practice" in the two countries "from the global network of member firms."
- Ernst & Young was severing ties with Russia, axing its 4,700-person business in the country.
- PricewaterhouseCoopers was cutting ties with its Russian member, affecting 3,700 partners and staff in the country.
- KPMG was ending its association with its 4,500 partners and staff in Russia and Belarus.
- Estée Lauder said it was suspending "all commercial activity in Russia.
- Boeing suspended major operations in Moscow, as well as maintenance and technical support for Russian airlines.
- Airbus is halting supply of parts and services to Russian airlines.
- Shell was severing ties with Russian gas giant Gazprom and ending its roughly $1 billion financing of the Nord Stream 2 gas pipeline. It's donating profits from a recent purchase of Russian crude oil to aid Ukrainian refugees.
- BP is exiting its nearly 20% stake in Russian oil giant Rosneft, and faces a potential financial hit of as much as $25 billion.
- Exxon Mobil said it was exiting Russia oil and gas operations valued at more than $4 billion and cease new investment.
- GM, which sells only about 3,000 cars a year in Russia,was suspending exporting vehicles.
- Ford suspended operations.
- BMW stopped shipments and will stop production in Russia.
- Daimler Truck Holdings said it would no longer send supply components to its Russian joint-venture partner.
- Volvo Cars, owned by Chinese conglomerate Zhejiang Geely, halted sales and shipments.
- Renault ceased operations and production at two assembly plants because it can't get parts.
- VW paused delivery of Audis already in Russia so it can adjust car prices to reflect the decline in value of the ruble.
- Harley-Davidson suspended shipments to Russia.
- Adidas suspended its partnership with the Russian Football Union.
- Nike ceased online sales because it can’t guarantee delivery.
- FedEx and UPS suspended shipments.
- Yoox Net-A-Porter Group and Farfetch, luxury e-commerce platforms, are suspending deliveries in Russia.
- Apple has paused product sales and limited services (including Apple Pay), on top of ceasing exports to Russia and restricting features in Apple Maps in Ukraine to safeguard civilian safety.
- Dell stopped selling products.
- Ericsson was suspending deliveries to Russia.
- Walt Disney was pausing film debuts in Russia. Warner Bros., Sony, Paramount and Universal say they won't release films in the country.
- Ikea was closing its Russian stores and pausing all exports and imports in the country and ally Belarus.
- Airbnb said it was "suspending all operations in Russia and Belarus."
- Google suspended all online advertising in Russia.
- Microsoft suspended all new sales of its products and services in Russia.
- Hermès temporarily closed all of its stores in Russia.
- Visa, MasterCard and American Express suspended all Russian operations.
- Amazon Web Services was no longer accepting new customers Russia and Belarus.
- Uniqlo's owner, Fast Retailing, temporarily suspended operations in Russia.
Editor's note: This article has been updated with new details throughout.
