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.
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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.
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Economic sanctions, including export controls, have curtailed imports.
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Some workers were being moved out of Russia.
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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:
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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.”
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Ernst & Young was severing ties with Russia, axing its 4,700-person business in the country.
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PricewaterhouseCoopers was cutting ties with its Russian member, affecting 3,700 partners and staff in the country.
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KPMG was ending its association with its 4,500 partners and staff in Russia and Belarus.
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Estée Lauder said it was suspending “all commercial activity in Russia.
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Boeing suspended major operations in Moscow, as well as maintenance and technical support for Russian airlines.
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Airbus is halting supply of parts and services to Russian airlines.
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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.
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BP is exiting its nearly 20% stake in Russian oil giant Rosneft, and faces a potential financial hit of as much as $25 billion.
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Exxon Mobil said it was exiting Russia oil and gas operations valued at more than $4 billion and cease new investment.
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GM, which sells only about 3,000 cars a year in Russia,was suspending exporting vehicles.
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Ford suspended operations.
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BMW stopped shipments and will stop production in Russia.
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Daimler Truck Holdings said it would no longer send supply components to its Russian joint-venture partner.
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Volvo Cars, owned by Chinese conglomerate Zhejiang Geely, halted sales and shipments.
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Renault ceased operations and production at two assembly plants because it can’t get parts.
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VW paused delivery of Audis already in Russia so it can adjust car prices to reflect the decline in value of the ruble.
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Harley-Davidson suspended shipments to Russia.
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Adidas suspended its partnership with the Russian Football Union.
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Nike ceased online sales because it can’t guarantee delivery.
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FedEx and UPS suspended shipments.
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Yoox Net-A-Porter Group and Farfetch, luxury e-commerce platforms, are suspending deliveries in Russia.
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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.
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Dell stopped selling products.
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Ericsson was suspending deliveries to Russia.
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Walt Disney was pausing film debuts in Russia. Warner Bros., Sony, Paramount and Universal say they won’t release films in the country.
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Ikea was closing its Russian stores and pausing all exports and imports in the country and ally Belarus.
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Airbnb said it was “suspending all operations in Russia and Belarus.”
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Google suspended all online advertising in Russia.
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Microsoft suspended all new sales of its products and services in Russia.
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Hermès temporarily closed all of its stores in Russia.
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Visa, MasterCard and American Express suspended all Russian operations.
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McDonald’s announced it is temporarily closing all of its stores in Russia.
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Starbucks suspended all activity in Russia.
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Amazon Web Services was no longer accepting new customers Russia and Belarus.
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Coca-Cola was suspending operations in Russia.
Editor’s note: This article has been updated with new details throughout.
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