Companies are withdrawing from Russia because of the war in Ukraine

Here’s a look at the latest big corporate announcements.


Ford announced on Tuesday that it was suspending operations in Russia. The American carmaker has a 50% stake in Ford Sollers, a joint venture that employs at least 4,000 people and is shared with Russia’s Sollers.

Ford said earlier Tuesday that it was “deeply concerned about the situation in Ukraine”, but did not go so far as to suspend operations in the three Russian cities where the company has plants: St. Petersburg, Elabuga and Naberezhnye Chelny.

Ford Sales and Service Center.

The company notes that it has “significantly reduced” its Russian operations in recent years and has “a strong contingent of Ukrainian citizens working for Ford around the world.”

General Motors said on Friday that it would suspend all exports to the country “until further notice”.

GM has no significant presence there: it sells only about 3,000 vehicles a year through 16 dealerships, according to a spokesman. That’s more than 6 million vehicles sold by the Detroit-based automaker worldwide each year.


Boeing said on Tuesday that he would suspend support for Russian airlines.

A spokesman for the company confirmed that it was pausing “parts, maintenance and technical support services for Russian airlines” and that it had “suspended major operations in Moscow and temporarily closed our Kyiv office”.

“As the conflict continues, our teams are focused on ensuring the safety of our teammates in the region,” he added.

Airbus followed by Boeing with a similar move on Wednesday. In a statement, the aircraft manufacturer said it had “suspended maintenance services for Russian airlines, as well as the supply of spare parts for the country.”

Great technique

Apple has stopped selling its products in Russia, the company said on Tuesday.

The company said in a statement that it was “deeply concerned” about the Russian invasion. In response, it also focused on restricting access to digital services, such as Apple Pay, in Russia and restricting access to Russian state media applications outside the country.

Re: Store in the center of Moscow.  re: Store is one of Apple's largest distributors in Russia.
Facebook (FB)– parent The goal said on Monday that it would block access to Russian news outlets RT and Sputnik across the European Union.

The move comes after receiving “requests from a number of governments and the EU to take further steps with regard to Russian-controlled state media,” tweeted Nick Clegg, the company’s vice president of global affairs.

Meta also said it had imposed algorithmic restrictions on Russian state media that should prevent them from appearing prominently in consumer broadcasts.

Twitter (TWTR) similarly announced plans to “reduce the visibility and enhance” the content of Russian state media.
Big Tech is fighting against the content of the Russian state media amid growing pressure
Netflix (NFLX) also said Monday that it refuses to broadcast Russian state television channels in the country – something the streamer should do under Russian law this week.

“Given the current situation, we have no plans to add these channels to our service,” the company told CNN Business.

Year, a company that sells hardware that allows users to stream content over the internet has also promised to ban RT in Europe.

YouTube, which is owned by doogle, said over the weekend that it had blocked Russian state media in Ukraine, including RT. The video platform also said it would “significantly limit the recommendations for these channels”.

Google and YouTube have also said they will no longer allow Russian state media to run ads or generate revenue from their content.


BP said on Sunday that it plans to leave its 19.75% stake in Russia’s largest oil company, Rosneft, and their joint ventures, one of Russia’s largest foreign investments.

Equinor will also start leaving its joint ventures in Russia, the Norwegian oil and gas company announced on Monday.

“We are all deeply concerned about the invasion of Ukraine, which is a terrible obstacle to the world,” said Anders Opedale, chief executive.

The company said it had $ 1.2 billion in long-term investments in Russia at the end of 2021. It has been operating in Russia for more than 30 years and has a cooperation agreement with Rosneft.

Exxon is leaving its latest Russian project

Exxon promised on Tuesday to leave his latest remaining oil and gas project in Russia and not to invest in new developments in the country.

Sakhalin-1 is “one of the largest single international direct investments in Russia,” according to the project’s website. A subsidiary of Exxon has a 30% stake, while Rosneft also owns a stake.

With the departure of this project, Exxon will end more than a quarter of a century of business presence in Russia.

Shell follows BP from Russia as oil companies abandon Putin
Shell it is also leaving Russia and abandoning its joint ventures with Gazprom, including its participation in the dying Nord Stream 2 gas pipeline.

The UK-based oil company said Monday it would dump its stake in a liquefied natural gas facility, its stake in a field development project in Western Siberia and its interest in a project to explore the Gidan Peninsula in northwestern Siberia.

“We are shocked by the loss of human lives in Ukraine, which we regret as a result of a senseless act of military aggression that threatens European security,” Shell CEO Ben van Beurden said in a statement.

Shell gas station, seen in Moscow in 2020
TotalEnergies on Tuesday also condemned Russia’s actions, saying it would no longer provide capital for new projects in the country.

The French oil giant has been doing business in Russia for 25 years and recently helped launch a major liquefied natural gas project off the Siberian coast.


The $ 1.3 trillion Norwegian sovereign wealth fund will sell shares in 47 Russian companies as well as Russian government bonds, the Norwegian prime minister said on Sunday.
Mastercard (MA) announced on Monday that it has “blocked many financial institutions” from its network as a result of anti-Russian sanctions and will “continue to work with regulators in the coming days.”
visa (V) also said on Tuesday that it is taking steps to comply with the measures as they develop.

Media and entertainment

DirectTV sever ties with RT, Russian-backed television network infamous for promoting Russian President Vladimir Putin’s program.

A spokesman for the US satellite operator told CNN Business on Tuesday that it was already reconsidering whether to renew the agreement to transport the store, which was due to expire later this year. Russia’s war against Ukraine hastened its decision, according to the spokesman.

Disney it also suspended the release of its theatrical films in Russia, citing “the unprovoked invasion of Ukraine”.

The entertainment giant had a number of films that will be released in Russia in the coming months. These include Marvel’s “Doctor Strange in the Multiverse of Madness” on May 5 and Pixar’s “Lightyear” on June 16.

A buyer opens an umbrella with Disney princesses at the Central Children's Store on Lubyanka Square in Moscow in 2017.

“We will make future business decisions based on the evolving situation,” said a Disney spokesman.

'Batman' withdrawn from Russia
WarnerMedia said Monday it would suspend the launch of Batman in Russia.

The film is expected to be one of the biggest blockbusters of the year and will be released in most countries by Warner Bros., which, like CNN, is a division of WarnerMedia.

A company spokesman said the decision was made “in light of the humanitarian crisis in Ukraine” and that the company hopes for a “quick and peaceful solution to this tragedy”.


Maersk and Mediterranean shipping company MSC both suspend cargo reservations with Russia.

“As the stability and security of our operations are already directly and indirectly affected by sanctions, Maersk’s new reservations to and from Russia will be suspended, except for food, medical and humanitarian supplies,” the Danish-based company said in a statement. in Tuesday.

“We are deeply concerned about how the crisis continues to escalate in Ukraine,” the company added.

MSC, a Swiss container company, said its own shutdown began on Tuesday and will include “all access areas, including the Baltic Sea, the Black Sea and Russia’s Far East”.

– Michelle To, Chris Isidore, Vanessa Jurkevich, Paul P. Murphy, Mark Thompson, Vasco Cotovio, Peter Valdes-Dapena, Frank Palotta, Brian Fung, Oliver Darcy, Jordan Valinski and Chris Liakos contributed to this report.