amazon it is the only big tech company with a market capitalization of more than a trillion dollars that has not yet taken corporate action to protest the invasion russian from Ukraine.
In fact, of the five business groups with the largest market capitalization in the world, Apple, Microsoft and Google (Alphabet), which are the first, third and fourth largest, have already announced some type of initiative that entails a reduction in the income they obtain From Russia.
The Saudi oil company Aramco, the second largest listed company in the world, and the Amazon technology group, the fifth, have not announced any measures. The latter has explained that it does not have any type of physical presence in Russia or Ukraine and its market share in electronic commerce is not comparable to that of AliExpress or that of local operators such as Ozon.
What Amazon has done has been to promote humanitarian measures and to reinforce cybersecurity in Ukraine and, in fact, has enabled a blog in which it is giving an account of it.
In any case, and in terms of the adoption of business strategy measures, today Amazon is the great absentee among the world’s Top-5 technology.
Other absences in the world ranking
Among the 20 largest capitalized companies in the world, relevant absences are also detected in this regard, such as those of Tesla (which ranks number 6 of the largest listed companies in the world), Berkshire Hathaway (the business holding company of billionaire Warren Buffett, in position 7), the American chip manufacturer Nvidia (9), the financial JPMorgan Chase (15) or Walmart, the largest supermarket chain in the world (16).
In contrast, among those that have already taken some step are Apple, Microsoft, Google, Meta (Facebook, the eighth largest capitalization firm in the world), TSMC (tenth), Visa (fourteenth), Exxon Mobil (nineteenth) and Nestlé (20th), which have announced the cessation of their activities in Russia or some other corporate boycott measure to express their opposition to the Russian invasion.
Technological and communications
Apple was among the first to take action by “pausing” the sale of its products to Russia. In addition, it has limited access to the Apple Pay payment system and has stopped offering certain information on maps of Ukraine in its Apple Maps application, in order to protect the safety of Ukrainian citizens.
The technology company Microsoft has also decided to suspend sales of its products and services in Russia, as well as other “aspects” of its business in that country, and its president, Brad Smith, has condemned the Russian invasion of Ukraine on behalf of the entire group. .
In addition, it ensures that it is collaborating with the governments of the United States, the European Union (EU) and the United Kingdom to comply with the sanctions imposed on Moscow, in addition to protecting Ukraine’s cybersecurity.
Google has also joined the measures to isolate Russia by suspending its advertising business in that country after previously stopping its ads in content produced by state media.
The president of the United States, Joe Biden, called last week in the State of the Union address for the cessation of all activities by Google and Amazon in order to plunge Russia into a “technological winter”.
Meta (the former Facebook) announced that it would restrict the presence of the Russian television network and agencies on its social networks, such as Facebook, Instagram and WhatsApp, although the Russian regulator also decided to block the social network on its territory.
Also, Korea’s Samsung stopped shipments to Russia last Friday, multiple media have reported, while semiconductor maker TSMC has said it will not export chips to Russia.
Finance and consumption
In the financial field, Visa, Mastercard and American Express have also suspended operations in Russia “in light of the continuous and unjustified attack (by that country) against the people of Ukraine”, in the words of the last of them, so that all your cards no longer work in that country.
This means that cards issued outside of Russia cannot be used to make purchases or withdraw money within the country, although citizens with cards issued in the country will be able to buy within Russia, although their transactions will be made through other networks.
The decision of the three platforms comes a week after the United States and the EU, together with other Western partners, agreed to remove “certain” Russian banks from the international Swift system, which accentuates Russia’s disconnection from the international financial system.
The Swift transaction system is the foundation of the global financial system and is used by 11,000 banks in 200 countries or territories to make transfers.
In addition, the Swiss food company Nestlé has also stopped its production in Ukraine, while the US oil company ExxonMobil has announced that it will not invest in new projects in Russia and that it is “taking steps” to exit its last production business, located in Sakhalin and operating on behalf of a consortium of Japanese, Indian and Russian companies.
The oil company has begun “the process of interrupting operations” in the oil and gas platform, where it has a 30% stake and which after 25 years represents one of the largest international direct investments in Russia.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
