Alexei Nikolsky/Associated Press
- Major companies are ending decades of business with Russia following Putin’s invasion of Ukraine.
- The latest brands exiting the country include BP, Apple, Spotify, and Ikea.
- Here’s a list of Western companies that have divested from Russia or halted sales to the country.
Companies from around the world are pulling out of Russia as the country plunges into economic free fall following its invasion of Ukraine.
Here are the major US and European companies that have severed business ties with Russia so far:
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Estée Lauder announced on Monday that it suspended business investments and initiatives in Russia last week and also “decided to suspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia.”
Artur Widak/NurPhoto via Getty Images.
Ikea announced on Thursday that it will temporarily close all 17 Ikea stores in Russia while also halting production in the country. The Swedish furniture giant has ceased shipments to and from Russia, The Wall Street Journal reported.
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Vyacheslav ProkofyevTASS via Getty Images
H&M announced on Wednesday that it will temporarily pause all sales in Russia.
“H&M Group is deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering,” the company said in a statement. “H&M Group cares for all colleagues and joins all those around the world who are calling for peace.”
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Disney became the first entertainment giant to pause theatrical releases in Russia on Monday.
“Given the unprovoked invasion of Ukraine and the tragic humanitarian crisis, we are pausing the release of theatrical films in Russia, including the upcoming ‘Turning Red’ from Pixar,” the company said in a statement.
Warner Bros.
On Tuesday, Warner Bros. followed suit and announced it would also pause releases in Russia, including “The Batman,” NYT reported.
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Canada Goose suspended all wholesale and e-commerce sales to Russia on Wednesday and donated $100,000 CAD to the United Nations High Commissioner for Refugees.
“We will continue to monitor the situation as it evolves and join others around the world calling for peace,” the company said.
Rafael Henrique/SOPA Images/LightRocket via Getty Images
Online travel-booking company Expedia ceased the sale of travel into and out of Russia on Wednesday, an Expedia spokesperson confirmed with Insider.
“We are saddened by what continues to unfold in Ukraine and will continue to do what we can to support impacted travelers, partners, and our team members with families and friends in the affected areas,” the company added.
Adidas
Adidas ended its partnership with the Russian Football Union on Tuesday. The announcement came one day after FIFA suspended Russia’s teams from international football games, including the men’s 2022 World Cup.
Jakub Porzycki/NurPhoto via Getty Images
In a statement on Tuesday, ExxonMobil said it would begin the process to discontinue operations and develop steps to exit the Sakhalin-1 venture, a project it operates on behalf of an international consortium of Japanese, Indian, and Russian companies.
Per the Sakhalin-1 website, it is one of the largest single international direct investments in Russia.
The company said that given the current situation, it would not invest in new developments in Russia.
“ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people,” ExxonMobil said in the statement.
Thomson Reuters
Source: Reuters
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Source: Bloomberg
Getty
Sergei Mikhailichenko/SOPA Images/LightRocket via Getty Images
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Reuters
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Source: Insider
Kirsty Wigglesworth/AP
Luxury fashion giant LVMH — which owns several high-end brands including Louis Vuitton, Christian Dior, Fendi, and Givenchy — confirmed to The New York Times on March 4 that it will temporarily shutter its stores in Russia “given the current circumstances in the region.”
Alex Tai/SOPA Images/LightRocket via Getty Images
Kering, the conglomerate behind luxury brands such as Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, announced in a statement on March 4 that it is temporarily closing all stores in Russia.
Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images
“Deeply concerned by the situation in Europe at this time, it’s with regret that we have taken the decision to temporarily close our stores in Russia and pause all our commercial activities from March the 4th evening,” Hermès wrote on its LinkedIn page on March 4. “We will continue to stand by our local team.”
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“We will no longer deliver into Russia, we will close our boutiques, and we already suspended our e-commerce,” Chanel wrote in a LinkedIn post on March 4.
Budrul Chukrut/SOPA Images/LightRocket via Getty Images
Inditex, the largest global fashion company and owner of the fast-fashion brand Zara, told Reuters on March 5 it will temporarily halt all business with Russia.
“In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity”, Inditex told Reuters.
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PayPal announced on March 4 that it would suspend services in Russia
“PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s violent military aggression in Ukraine,” PayPal CEO Dan Schulman wrote in a letter to Ukrainian Vice Prime Minister Mykhailo Fedorov which was shared on Twitter.
He continued: “Under the current circumstances, we are suspending PayPal services in Russia. We are also doing all that we can to support our staff in the region during this deeply difficult time.”
Reuters/Dado Ruvic/Illustration/File Photo
Visa said on March 5 that it would temporarily halt business in Russia, effective immediately, with all transactions stopping over the course of the next few days.
Thiago Prudencio, SOPA Images
Mastercard announced on March 5 that cards issued by Russian banks will “no longer be supported by the Mastercard network.”
“We don’t take this decision lightly. Mastercard has operated in Russia for more than 25 years,” the company said in a statement. “As we take this step, we join with so many others in hoping for and committing to a more positive, productive, and peaceful future for us all. ”
Thomson Reuters
American Express announced on March 6 that globally issued cards will no longer work in Russia, while cards within the country will cease to function within the company’s larger network. It also suspended business in Belarus.
Rafael Henrique/SOPA Images/LightRocket via Getty Images
The streaming giant announced on March 6 it would pull its business from the country in response to its invasion of Ukraine, as first reported by Variety.
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TikTok suspended all livestreaming and content sharing in Russia on March 6, writing in a post on its website that it had “no choice” but to halt service in response to the country’s new “fake news” law.
Anton NovoderezhkinTASS via Getty Images
British luxury brand Burberry temporarily closed its three stores in Russia after previously saying that it would halt shipments to the country because of “operational challenges.”
Artur Widak/NurPhoto via Getty Images
Sportswear giant Puma has temporarily closed all of its 100 stores in Russia. A spokesperson for the company confirmed to Insider that all of its employees in Russia will continue to be paid in full.
Anton NovoderezhkinTASS via Getty Images
Italian luxury brand Prada has temporarily shut down all of its retail operations in Russia.
“Our primary concern is for all colleagues and their families affected by the tragedy in Ukraine, and we will continue to support them,” the company said in a statement shared on Linkedin on Saturday.
Danish Siddiqui/Reuters
Accountancy giant PwC said in a statement Sunday that it is cutting ties with the Russian arm of its business, where it has 3,700 staff and partners. PwC Russia will now operate as a standalone company under a different name with no official link to PwC.
Charles Platiau/Reuters
KPMG, another accountancy giant, announced similar changes to its rival PwC on Sunday. The company said its Russia and Belarus firms will leave the KPMG network, which employs more than 4,500 people.
Thiago Prudencio/SOPA Images/LightRocket via Getty Images
Airbnb CEO Brian Chesky tweeted Thursday that the company is suspending all operations in Russia and Belarus.
Kirsten Acuna/Insider
Lego has stopped shipping toys to 81 stores in Russia, Bloomberg reported Monday.
IBM
On March 7, IBM announced it had suspended all business in Russia. In its statement, the company urged IBM employees to donate to the International Red Cross.
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