As Russia’s invasion of Ukraine enters its second week, tensions are still soaring that Ukraine’s fears of a Russian spearhead attack are expected to wreak havoc on the country. At this point, prices for many items surged globally, making a drift in the economy. Countries across the world have come forward to raise their voice against Russia’s horrible and devastating attack on Ukraine. At this point, many companies and brands have also decided to take a step against Russia that is to suspend the brand’s operation in the country.
A growing number of international companies have also planned to withdraw back from Russian land, as rebels to the ongoing conflict. As per the latest report, there are lot more companies who have decided to take back their operations from Russia. From technology companies to oil, automobile, and clothing brands – the Kremlin has faced boycotts from all walks of life as the attack continues unabated despite global demands, CNN reported.
Moreover, U.S. payments firms Visa Inc and Mastercard Inc in their recent decision also made it clear that they are suspending operations in Russia over the invasion of Ukraine. Also, they said, they would plan to stop all transactions in Russia and would ask their clients and partners about the same. American vacation rental company Airbnb became the latest to suspend its operations.
Here is the list of companies and brands who are withdrawing or putting a halt to their operations in Russia:
The automobile companies that have become a part of Russia’s pushback:
- Ford Motor Company: “We are deeply concerned about the situation in Ukraine, and we are suspending operations in Russia”, the motor company said.
- Volkswagen: “With immediate effect, the operations of our company in Russia comes to a standstill,” the company said. It is stopping the production of vehicles in Russia and will suspend exports to the Russian market.
- Toyota: The company said, it would stop making cars in Russia, or importing them to the country until further notice, due to supply chain disruptions. The final decision will be taken only after keenly observing the situation in Ukraine.
- Mercedes-Benz: The German carmaker is seeking legal options to divest its 15% stake in Kamaz as quickly as possible.
Technology giants that have become a part of Russia’s pushback:
- Apple: It has stopped selling its products in Russia. The company decided to limit access to digital services, such as Apple Pay, inside Russia and restricted the availability of Russian state media applications outside the country. stopped all its product sales in Russian markets.
- Facebook: The tech giant announced it would block access to Russian news outlets RT and Sputnik across the European Union.
- Netflix: The company said it was refusing to air Russian state TV channels in the country. The streaming platform halted all its projects in Russia.
- Google: Google has blocked mobile apps connected to Russian state-funded publisher RT from its news-related features, and has also barred RT and other Russian channels from receiving money for advertisements.
- H& M: The Swedish clothing company also decided to temporarily stop its sales in Russia. The clothing giant’s stores in Ukraine are already closed due to safety concerns. Meanwhile, Ikea-the largest furniture giant has also decided to halt its 17 stores in Russia. There are brands stepping up along with H &M to take action against Russia if they continue with the same invasion.
- Puma: German sports company Puma said it is suspending operations of all of its stores in Russia on Saturday. The company said it operates more than 100 stores in the country.
- Disney: American multinational entertainment and media conglomerate Disney said, “Russia has allegedly attacked Ukraine. In this regard, we are suspending the release of theoretical films in Russia. We will make future business decisions based on the evolving situation.”
- Adidas: German sportswear brand Adidas has announced the suspension of its partnership with the Russian Football Union. This comes after UEFA banned all Russian football clubs from its competitions.