Major companies are ending decades of business with Russia following Putin's invasion of Ukraine.
Here's a list of Western companies that have divested from Russia or halted sales to the country.
Companies from around the world are pulling out of Russia as the country plunges into economic free fall following its invasion of Ukraine.
Here are the major US and European companies that have severed business ties with Russia so far:
1. The Estée Lauder Companies
Estée Lauder announced on Monday that it suspended business investments and initiatives in Russia last week and also "decided to suspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia."
Ikea announced on Thursday that it will temporarily close all 17 Ikea stores in Russia while also halting production in the country. The Swedish furniture giant has ceased shipments to and from Russia, The Wall Street Journal reported.
4. H&M Group
H&M announced on Wednesday that it will temporarily pause all sales in Russia.
"H&M Group is deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering," the company said in a statement. "H&M Group cares for all colleagues and joins all those around the world who are calling for peace."
Disney became the first entertainment giant to pause theatrical releases in Russia on Monday.
"Given the unprovoked invasion of Ukraine and the tragic humanitarian crisis, we are pausing the release of theatrical films in Russia, including the upcoming 'Turning Red' from Pixar," the company said in a statement.
6. Warner Bros.
On Tuesday, Warner Bros. followed suit and announced it would also pause releases in Russia, including "The Batman," NYT reported.
7. Canada Goose
Canada Goose suspended all wholesale and e-commerce sales to Russia on Wednesday and donated $100,000 CAD to the United Nations High Commissioner for Refugees.
"We will continue to monitor the situation as it evolves and join others around the world calling for peace," the company said.
Online travel-booking company Expedia ceased the sale of travel into and out of Russia on Wednesday, an Expedia spokesperson confirmed with Insider.
"We are saddened by what continues to unfold in Ukraine and will continue to do what we can to support impacted travelers, partners, and our team members with families and friends in the affected areas," the company added.
Adidas ended its partnership with the Russian Football Union on Tuesday. The announcement came one day after FIFA suspended Russia's teams from international football games, including the men's 2022 World Cup.
In a statement on Tuesday, ExxonMobil said it would begin the process to discontinue operations and develop steps to exit the Sakhalin-1 venture, a project it operates on behalf of an international consortium of Japanese, Indian, and Russian companies.
Per the Sakhalin-1 website, it is one of the largest single international direct investments in Russia.
The company said that given the current situation, it would not invest in new developments in Russia.
"ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia's military action that violates the territorial integrity of Ukraine and endangers its people," ExxonMobil said in the statement.
12. General Motors
13. Truck manufacturers Volvo and Daimler Truck Holding
16. Norway's energy group Equinor
17. Norges Bank Investment Management, the world's largest sovereign wealth fund in Norway
Luxury fashion giant LVMH — which owns several high-end brands including Louis Vuitton, Christian Dior, Fendi, and Givenchy — confirmed to The New York Times on March 4 that it will temporarily shutter its stores in Russia "given the current circumstances in the region."
Kering, the conglomerate behind luxury brands such as Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, announced in a statement on March 4 that it is temporarily closing all stores in Russia.
"Deeply concerned by the situation in Europe at this time, it's with regret that we have taken the decision to temporarily close our stores in Russia and pause all our commercial activities from March the 4th evening," Hermès wrote on its LinkedIn page on March 4. "We will continue to stand by our local team."
"We will no longer deliver into Russia, we will close our boutiques, and we already suspended our e-commerce," Chanel wrote in a LinkedIn post on March 4.
Inditex, the largest global fashion company and owner of the fast-fashion brand Zara, told Reuters on March 5 it will temporarily halt all business with Russia.
"In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity", Inditex told Reuters.
PayPal announced on March 4 that it would suspend services in Russia
"PayPal supports the Ukrainian people and stands with the international community in condemning Russia's violent military aggression in Ukraine," PayPal CEO Dan Schulman wrote in a letter to Ukrainian Vice Prime Minister Mykhailo Fedorov which was shared on Twitter.
He continued: "Under the current circumstances, we are suspending PayPal services in Russia. We are also doing all that we can to support our staff in the region during this deeply difficult time."
Visa said on March 5 that it would temporarily halt business in Russia, effective immediately, with all transactions stopping over the course of the next few days.
Mastercard announced on March 5 that cards issued by Russian banks will "no longer be supported by the Mastercard network."
"We don't take this decision lightly. Mastercard has operated in Russia for more than 25 years," the company said in a statement. "As we take this step, we join with so many others in hoping for and committing to a more positive, productive, and peaceful future for us all. "
26. American Express
American Express announced on March 6 that globally issued cards will no longer work in Russia, while cards within the country will cease to function within the company's larger network. It also suspended business in Belarus.
The streaming giant announced on March 6 it would pull its business from the country in response to its invasion of Ukraine, as first reported by Variety.
TikTok suspended all livestreaming and content sharing in Russia on March 6, writing in a post on its website that it had "no choice" but to halt service in response to the country's new "fake news" law.
British luxury brand Burberry temporarily closed its three stores in Russia after previously saying that it would halt shipments to the country because of "operational challenges."
Sportswear giant Puma has temporarily closed all of its 100 stores in Russia. A spokesperson for the company confirmed to Insider that all of its employees in Russia will continue to be paid in full.
Italian luxury brand Prada has temporarily shut down all of its retail operations in Russia.
"Our primary concern is for all colleagues and their families affected by the tragedy in Ukraine, and we will continue to support them," the company said in a statement shared on Linkedin on Saturday.
Accountancy giant PwC said in a statement Sunday that it is cutting ties with the Russian arm of its business, where it has 3,700 staff and partners. PwC Russia will now operate as a standalone company under a different name with no official link to PwC.
KPMG, another accountancy giant, announced similar changes to its rival PwC on Sunday. The company said its Russia and Belarus firms will leave the KPMG network, which employs more than 4,500 people.
Airbnb CEO Brian Chesky tweeted Thursday that the company is suspending all operations in Russia and Belarus.
Lego has stopped shipping toys to 81 stores in Russia, Bloomberg reported Monday.
On March 7, IBM announced it had suspended all business in Russia. In its statement, the company urged IBM employees to donate to the International Red Cross.
Levi's, the US' most iconic denim brand, has temporarily halted sales in Russia and is donating more than $300,000 to nonprofits that are providing support to people impacted by the conflict.
The company said in a statement that Eastern Europe accounted for 4% of its net sales in 2021 and that business in Russia made up for half of that.
"We have suspended all imports and exports of our products into and out of Russia, and we will stop all media and advertising spend. We will not invest any further capital into the country nor will we profit from our presence in Russia," Unilever CEO Alan Jope said in a statement on March 7.
40. The Coca-Cola Company
The Coca-Cola Company announced Tuesday, March 8 that it is suspending business in Russia.
"Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine. We will continue to monitor and assess the situation as circumstances evolve," the company said in a statement.
Starbucks will suspend all business activity in Russia including product shipments, CEO Kevin Johnson announced on Tuesday, March 8.
"Our licensed partner has agreed to immediately pause store operations and will provide support to the nearly 2,000 partners in Russia who depend on Starbucks for their livelihood," Johnson wrote in a statement.
PepsiCo announced Tuesday, March 8 that it will suspend select beverage sales, capital investments, and all advertising in Russia.
Russia is PepsiCo's third-largest market, after the US and Mexico. The decision follows a Wall Street Journal article that reported PepsiCo was "reluctant" to end its 60-year presence in Russia despite mounting external pressure.
PepsiCo will continue to sell "other products in Russia, including daily essentials such as milk and other dairy offerings, baby formula and baby food," CEO Ramon Laguarta said in a statement.
Bumble said on Tuesday, March 8 that it is suspending business in Russia. Bumble-owned apps will no longer be available to download in Russia or Belarus, Reuters reported.
44. Amazon Web Services
Amazon Web Services is no longer allowing new customers to sign up in Russia, the company said on Tuesday. Amazon said in a statement that AWS has no data centers in Russia, and has a standing policy of not conducting business with the Russian government.
Dutch beer giant Heineken said it will stop the production, advertising, and sale of its brand in Russia while promising to support local employees.
After initially saying that it would pause investment in its Russian business, KFC-owned Yum Brands then confirmed that it would suspend operations at its KFC restaurants in Russia.
It is also working to close its Pizza Hut chain in Russia, it said.
47. Papa John's
Papa John's announced on March 9 that it would suspend all operations in Russia and has "ceased all operational, marketing, and business support to, and engagement with, the Russian market," noting that all restaurants in the country are owned by independent franchisees.
The company wrote in a statement that it is also making financial contributions and donating dry goods to Ukraine.
Nestle suspended all capital investment in Russia on March 9, after first halting manufacturing in the country on February 24. The world's largest food manufacturer operates three factories and has 5,000 employees in Russia.
49. Philip Morris
Philip Morris said on March 9 that it would suspend investments in Russia, including product launches and commercial, innovation, and manufacturing efforts in the region.
The cigarette and tobacco company said in a press release that it also "plans to scale down its manufacturing operations in Russia amid ongoing supply chain disruptions and the evolving regulatory environment."
"After reassessing our business in Russia, we have decided to suspend all business operations there," a 3M spokesperson told Insider on March 9. "Our focus continues to be on the safety of our colleagues and their families."
51. Goldman Sachs
Goldman Sachs is the first major bank on Wall Street to announce it will shut down operations in Russia, Bloomberg reported Thursday.
"Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements," the bank said in an emailed statement to the outlet.
Uniqlo reversed its pledge to keep its 50 stores in Russia open on March 10, opting to suspend business in response to mounting pressure.
"We have recently faced a number of difficulties, including operational challenges and the worsening of the conflict situation. For this reason, we will temporarily suspend our operations," the company said in a statement.
The decision comes just days after Tadashi Yanai — CEO of Fast Retailing, Uniqlo's parent company — said in a statement the company was keeping stores open because "clothing is a necessity of life" and "the people of Russia have the same right to live as we do."
53. Deutsche Bank
Deutsche Bank announced on March 11 that it would reverse its initial plans to stay in Russia, following significant backlash for its decision to stay in the country.
"Like some international peers and in line with our legal and regulatory obligations, we are in the process of winding down our remaining business in Russia while we help our non-Russian multinational clients in reducing their operations. There won't be any new business in Russia," the company said in a statement.
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