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Which Companies Have Ceased Business with Russia? Part II

business with russia
more companies that have boycotted Russia and the specific actions they have taken

In our previous article, we talked about some companies that ceased their business operations with Russia. Since Russia began its invasion of Ukraine, approximately 1000 companies have said they are voluntarily exiting operations in Russia to some degree. 

Here are some more companies that have boycotted Russia and the specific actions they have taken:

Media Business with Russia

  • Bloomberg: they ceased operations in Russia and Belarus. As a result, they cut off these countries from every one of their Bloomberg products, like electronic trading platforms.
  • Netflix: they suspended their services and stopped future projects from being developed in Russia. 
  • Sony said they would suspend all operations in Russia.
  • The Walt Disney Company: they have paused the release of all their movies in Russia and stopped all their business operations. 
  • Warner Bros: they claimed they would pause any theatrical movie releases in the country. 

Professional Services

  • Bain: they said they would not collaborate with any Russian business and set forth a policy in 2020 “to not work for the Russian government at any level — central, state or departmental.”
  • Boston Consulting Group: they said they will not take on any new clients in Russia and that they have “started to wind down work where possible and will not take on any new work.” 
  • McKinsey & Company stated they would not take on any new operations in Russia, cease work for state-owned entities, and “will no longer serve any government entity in Russia.”
  • Deloitte, EY, KPMG, and PwC are all ceasing business in Russia. 

Tech

  • Amazon Web Services: they will not accept new customers in Russian for cloud computing services.
  • Apple: they stopped sales in Russia in March, took away two Russian state-run media platforms from the Apple App Store outside the country, and ceased all exports into their Russian sales channel.
  • Cogent: they completely cut off access to Russia.
  • Ericsson: they stated they would suspend their business in Russia indefinitely and put all their employees in the country on paid leave.
  • Google: they suspended advertising, including YouTube products.
  • IBM: They announced in March that stated they would cease business in Russia.
  • Intel: they will be suspending all their operations in Russia.
  • LG Electronics announced they would be suspending shipments of all their products to Russia.
  • Lumen: they decided to end all their business in the country.
  • Microsoft: they chose to suspend new sales of their products and services in Russia.
  • Nokia: they claimed they would leave Russia after they previously suspended new business, stopped deliveries, and changed their research and development work to be pursued out of the country.
  • SAP: they are slowing down their operations in the country after more than three decades. They are also suspending sales in both Russia and Belarus. 
  • Sony: they had “suspended all software and hardware shipments” to Russia and their operation of the PlayStation Store in the country.
  • Uber: they stated that they would “accelerate” their divestment from the Russian internet company Yandex.

Travel and Logistics Business with Russia

  • Airbus: they have ceased supplying parts, maintenance, and technical support services to all Russian airlines.
  • Amadeus: they have separated themselves from Aeroflot, the largest airline in Russia.
  • American Airlines followed suit with commercial carriers by suspending travel to Russia.
  • Boeing: they said they had stopped buying titanium from Russia. 
  • Delta Air Lines: they have stopped code-sharing and interline agreements with any Russian carrier.
  • Hyatt: they ceased development work in Russia.
  • Hilton: they shut down their corporate office in Moscow.
  • FedEx: they suspended shipments to Russia.
  • DHL: they claimed in a statement that “inbound services to Russia and Belarus have been suspended.”
  • Sabre announced that they were “taking immediate steps to remove Aeroflot flight content from its global distribution system.”
  • United Airlines: they have temporarily ceased service between San Francisco and Delhi and between Newark and Mumbai so they could stop flying over Russian airspace.
  • UPS: they stated they would stop delivery services to Russia.

Manufacturing

  • Caterpillar: they are pausing their manufacturing pursuits in Russia.
  • Hitachi: they will be ceasing exports to Russia and pausing manufacturing operations.
  • Renault: they announced that they are selling their majority stake in AvtoVAZ, Russia’s largest auto manufacturer, to a state-backed entity.
  • Siemens: they said they would leave Russia and would “carry out an orderly process to wind down” their business in this country.
  • Stellantis: they have stopped all of their manufacturing at a plant operating with Mitsubishi in Kaluga, Russia, claiming logistical difficulties. They also stopped suspending exports of cars from Russia and importing vehicles.
  • Tata Steel claimed they would stop doing business with Russia and instead would source “alternative supplies of raw materials to end its dependence” on Russia. 
  • Volvo: they put aside about $423 million to account for losses predicted in the first quarter due to Russian exposure. In addition, they have suspended “all sales, service, and production in Russia.”

In Summary

The list of businesses that have halted any business with Russia continues to grow. The previously announced companies in Part I and Part II have announced publicly that they will not do business with Russia in some fashion. Check out the first part of our article, which discusses retail and goods, energy, finance, and food companies that will no longer be doing business in Russia.

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Which Companies Have Ceased Business with Russia? Part I 

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