BP, Shell, Volvo, Ford, Apple, Nike: an exodus of multinationals hits Russia.
Like a constant trickle, more and more international companies are being added to the exodus from Russia due to its invasion of Ukraine. As sanctions against the Kremlin increase.
Energy companies, banks, airlines and automakers, among others, have cut shipments to the country, ended partnerships and called Moscow’s actions unacceptable.
The blockade already affects all sectors and threatens to leave Russian industry without supplies, especially military and technology.
List of international companies leaving Russia:
BP. The British oil company, the largest foreign investor in Russia, leaves Russia and the shareholding of Rosneft, with an impact of up to 22.4 billion.
shell. The Anglo-Dutch oil company has terminated its alliance with the Russian giant Gazprom, including the Sakhalin-II liquefied natural gas facility and its participation in the Nord Stream 2 gas pipeline. Projects that add up to a joint value of nearly 3 billion dollars .
Exxon Mobil. The US energy firm has also ended its role in the Sakhalin-1 project, which was operating on behalf of consortiums from Japan, India and Russia. The company has added that it will not make any further investments in Russian territory as long as the situation persists.
equinor. Norway’s largest energy company has also put up a sell-off sign on its Russian holdings, which are worth about $1.2 billion.
Central. The same decision has been adopted by the British owner of the largest energy supplier in the United Kingdom, British Gas, which cancels its supply agreements with Gazprom.
TotalEnergies. The French energy company will not provide new capital for Russian projects.
Eni. The Italian oil giant has proceeded to sell its joint 50% stake, in equal parts with Russia’s Gazprom, in the “Blue Stream” gas pipeline, which connects Russia with Turkey.
Repsol. It got ahead of the rest of the companies by divesting in January of its last remaining assets in Russia.
master card and Visa. The two major card payment platforms have removed Russian banks from the system to comply with the measures.
boeing. The aircraft manufacturer has announced the suspension of its operations in Moscow and that it will temporarily close its office in Kiev.
Airbus. The European conglomerate has stopped sending spare parts to Russia and supporting Russian airlines.
ford engine. The automaker has suspended its operations in the country.
volkswagen. The German consortium has sent a statement to its Russian dealers to stop accepting orders from both Skoda and Audi and Volkswagen.
Daimler Truck. The parent company of the Mercedes-Benz group has decided to suspend its activity in Russia.
Volvo. Swedish brand Volvo will not ship any more vehicles until further notice. not the british jaguar land rover.
Maersk, Hapag Lloyd and MSC. International carriers suspend reservations to and from Russia.
Manzana. The American tech giant has halted sales of iPhones and other products in Russia.
Google. The multinational has blocked the broadcasts of the media linked to the Russian state on YouTube in Europe.
Facebook, Instagram and Youtube. The Meta platform has blocked these media controlled by the Kremlin in the countries of the European Union and others in the environment, such as the United Kingdom: the powerful agency Sputnik and the audiovisual media Russia Today.
microsoft. said it would remove RT’s mobile apps from its Windows app store and ban ads in Russian state-sponsored media.
Walt Disney Company. He will not premiere his new films in Russia.
Warner Bros and Sony. They have suspended the broadcast of their films.
Netflix. It will not comply with Russia’s new audiovisual law, which requires it to include some twenty Russian public channels on its platform.
Adidas. The German multinational ceases to be a sponsor of the Russian kit, after 14 years working together.
Nike. The sportswear brand has assured that the delivery of its products to Russian customers cannot be guaranteed.
The Moscow Stock Exchange remains closed.
The Moscow Stock Exchange will remain closed this Wednesday for the third consecutive session, in what is the longest period of closure for exceptional reasons since the 1998 crisis, according to the Bank of Russia.
With the Moscow trading floor closed since last Friday, the impact of the sanctions on the price of Russian companies is noticeable through the collapse registered in the value of the depository securities of Russian companies traded on European stock exchanges.
In this sense, Sberbank securities traded in London lost 93% of their value, while those of Gazprom dropped 87%, and those of Rosneft Oil and Lukoil yielded 70% and 92%, respectively.
Source: Eitb
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
