Connect with us

Politics

Ukraine: These Famous Brands Have Pulled Out from Russia

Published

on

These famous Western companies are no longer doing business in Russia. Some of our favorite brands are cutting ties with the country due to pressure from investors and consumers.

After Russian President Vladimir Putin ordered the invasion of Ukraine on Feb. 24, multinational companies have been forced to re-examine their ties with Russia.

Here are the world’s biggest brands that have pulled out from Russia due to the Ukraine invasion.

RETAILERS

Ikea Russia

IKEA

IKEA pulled out of Russia although its major chain of shopping centers, MEGA, will continue to operate. MEGA will continue to provide their customers with access to essentials.

The war has had a huge human impact already. It is also resulting in serious disruptions to supply chain and trading conditions. For all of these reasons, the company groups have decided to temporarily pause IKEA operations in Russia.

Advertisement

T.J. Maxx Store divest its equity ownership in Familia, an off-price retailer with more than 400 stores in Russia

T.J. MAXX

Ticker Symbol: TJX

TJX, the owner of T.J. Maxx and Marshalls promised to divest its equity ownership in Familia, an off-price retailer with more than 400 stores in Russia.


H&M Russia

H&M

Ticker Symbol: HNNMY

Retailer H&M had approximately 170 stores in Russia before pausing its sales due to the Russia-Ukraine conflict.

H&M Group is deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering. H&M Group has decided to temporarily pause all sales in Russia. The stores in Ukraine have already been temporarily closed due to the safety of customers and colleagues.”


Adidas pulls out of Russia due to Russia-Ukraine conflict

ADIDAS

Ticker Symbol: ADDYY

Advertisement

Adidas said it would suspend its sales in Russia. The retailer cut only 1 percent from its expected revenue growth this year, so not a lot compared to the broader market in the U.S.

The company has approximately 500 stores in Russia and in the former Soviet states.

Adidas has also cut its partnership with Russian football union. Reuters.


TECH

Amazon Web Services Russia

AMAZON WEB SERVICES

Ticker Symbol: AMZN

Amazon Web Services (AWS) has stopped accepting new customers for its iCloud computing services.

We have also stopped allowing new sign-ups for AWS in Russia and Belarus,” the statement on the company’s website said.

Advertisement

AWS has “no data centers, infrastructure, or offices in Russia” and their largest customers in the country are multinational corporations with local development teams, the company noted.


Google YouTube Russia

GOOGLE/YOUTUBE

Ticker Symbol: GOOGL

Google suspended advertising, including on its search and YouTube products.

“In light of the extraordinary circumstances, we’re pausing Google ads in Russia,” the company said in a statement. “The situation is evolving quickly, and we will continue to share updates when appropriate.” Reuters.


big brands that have pulled out of Russia - Apple
Big brands that have pulled out of Russia

APPLE

Ticker Symbol: AAPL

Apple has paused all sales inside of Russia and will stop all exports into the country in response to the invasion of Ukraine. OPB.

Advertisement

An Apple spokesman on confirmed that in addition to halting the sale of all Apple products inside of Russia, the company’s popular payment service, Apple Pay, is being limited in the country.


Microsoft

MICROSOFT

Ticker Symbol: MSFT

Microsoft also took the action of suspending its sales in the country.

“We are announcing today that we will suspend all new sales of Microsoft products and services in Russia,” Brad Smith wrote in a blog post on March 4 announcing the action. TechCrunch.


Uber has pulled out of Russia
Uber has pulled out of Russia

UBER

Ticker Symbol: UBER

Uber is hoping to ‘accelerate’ a planned sale of its remaining holdings in Yandex, a company that operates a ride-hailing service. Engadget.

Advertisement

“In light of recent events, we are actively looking for opportunities to accelerate the sale of our remaining holdings and, in the meantime, will remove our executives from the board of the joint venture,” Uber said.


TRAVEL & LOGISTICS

HILTON & HYATT HOTELS

Ticker Symbol: HLT

Hilton and Hyatt all moved to freeze new developments and suspend investments in Moscow and across the country, the companies announced. SKIFT.

Hilton’s corporate office was located in Moscow.


FEDEX, UPS, & DHL

FedEx, UPS, and DHL have all suspended shipments to and operations within Russia and Belarus.

“We are closely monitoring the situation and have contingency plans in place, including temporarily suspending inbound and outbound services to Ukraine and inbound service to Russia until further notice,” FedEx said on its website. The Hill.

Advertisement

Companies and brands temporarily closing

BOEING

Ticker Symbol: BA

Boeing is halting supply of aircraft parts to Russian airlines. Guardian.

Airbus has joined Boeing in halting the supply of aircraft parts and services to Russian airlines, squeezing its aviation industry amid the invasion of Ukraine.


FOOD & BEVERAGE

Companies temporarily closing in Russia – brands that pulled out due to Ukraine war

HEINEKEN

Ticker Symbol: HEINY

Heineken is also closing operations in the country. WSJ.

Heineken NV said Wednesday it would stop the production, advertising and sale of the Heineken brand in Russia as a response to the escalation of the war in Ukraine.

Advertisement

McDonalds suspends business in Russia
McDonalds – Companies that pulled out of Russia

MCDONALD’S

Ticker Symbol: MCD

McDonald’s is temporarily closing 850 of its restaurants in Russia. Washington Post.

Chris Kempczinski, chief executive of McDonald’s, said, “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine.”


Starbucks Coffee suspends business in Russia
Starbucks Coffee suspends sales in Russia

STARBUCKS COFFEE

Ticker Symbol: SBUX

Starbucks is suspending all business activity in Russia, and its licensee will temporarily shutter locations there.

The coffee chain has about 130 outlets in Russia and Ukraine, according to Bank of America Securities. CNBC.

Advertisement

CEO Kevin Johnson wrote in a letter on Tuesday afternoon that the company would provide support to its nearly 2,000 employees who live in Russia.


Coca-Cola suspends business in Russia
Coca-Cola – Brands that pulled out of Russia

COCA-COLA

Ticker Symbol: KO

The Coca-Cola company announced on March 8th that it is suspending its business with Russia.

“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine.”

PepsiCo (Pepsi brands) suspended its sodas from Russia as well.


Little Caesars suspends business in Russia
Little Caesars suspending sales in Russia

LITTLE CAESARS

Detroit-based Little Caesars is suspending all operations in Russia, which are all “franchise-owned,” amid the Russian invasion of Ukraine.

Advertisement

Little Caesars CEO says the royalties from Russian operations will go to humanitarian efforts in Ukraine.


MEDIA

Netflix suspends business in Russia
Companies temporarily closing in Russia

NETFLIX

Ticker Symbol: NFLX

Netflix has suspended its streaming platform in Russia. No new Russian accounts will be able to sign up, and existing customers will have their subscriptions canceled during the next billing cycle.

“Given the circumstances on the ground, we have decided to suspend our service in Russia.” Polygon.


Wall Disney Pauses business in Russia
Companies temporarily closing in Russia

THE WALT DISNEY COMPANY

Ticker Symbol: DIS

The Walt Disney Company is pausing all of its business in Russia in light of the country’s invasion of Ukraine.

Advertisement

Disney had previously paused all theatrical releases in the country, but the new move takes things a step further.

The company says that it will be pausing “content and product licensing, Disney Cruise Line activities, National Geographic magazine and tours, local content productions and linear channels.


Companies temporarily closing in Russia

WARNER BROS.

‘The Batman’ movie release was halted by Warner Bros.

“In light of the humanitarian crisis in Ukraine, WarnerMedia is pausing the release of its feature film ‘The Batman’ in Russia,” a spokesperson for WarnerMedia said in a statement.

Sony Pictures also announced plans to pause its plans to release “Morbius,” its upcoming solo film for the Marvel antihero, and all other upcoming theatrical releases in Russia.

AMC Theatres: The Most Anticipated Movies Coming in 2022


Subscribe

Sign up for our newsletter and stay up to date

*

What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
1
+1
0
Continue Reading
Advertisement
5 Comments

5 Comments

  1. Mylie Wiggins

    June 12, 2022 at 2:00 pm

    I very delighted to find this internet site on bing, just what I was searching for as well saved to fav

  2. redif nedir

    June 26, 2022 at 7:13 pm

    Very well presented. Every quote was awesome and thanks for sharing the content. Keep sharing and keep motivating others.

  3. muhasebe programı

    June 28, 2022 at 3:10 pm

    I truly appreciate your technique of writing a blog. I added it to my bookmark site list and will

  4. Instagram takipçi satın al

    July 1, 2022 at 5:31 am

    I like the efforts you have put in this, regards for all the great content.

  5. Hdpe Te

    November 17, 2022 at 11:21 pm

    Hello, we are making a difference to the world with our elborweltech brand, can you take a look at our article that we have prepared for you?

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending