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 are 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.

In the seven days since the invasion began:

  • 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 will sever ties with Russian gas giant Gazprom and end its roughly $1 billion financing of the Nord Stream 2 gas pipeline.
  • 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 says it will exit 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, says it will suspend 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 is suspending deliveries to Russia.
  • Walt Disney is pausing film debuts in Russia. Warner Bros., Sony, Paramount and Universal say they won’t release films in the country.
  • Ikea is closing its Russian stores and pausing all exports and imports in the country and ally Belarus.

Editor’s note: This story has been updated with information on Ikea pausing operations in Russia and Ukraine.

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