They are more and more multinationals taking stocks in Russia due to the invasion of Ukraine. Food chains, service providers, textile companies, IT companies, financial entities, global energy players and entertainment studios are speaking out on the matter.
McDonald’s, Coca Cola, starbucks and amazon have been added last Tuesday to the long list of companies that are totally or partially stopping their activity in this country. The suspension of the business of these global franchises is a blow to Russia that joins the US and UK import ban on oil, natural gas and coal from Russia.
The first in announcing their departure were the oil companies bp and shell. This is the list of the main multinational companies that are totally or partially stopping their activity in Russia, temporarily, such as pressure measures to stop the war with Ukraine.
Feeding
McDonald’s
The American fast-food multinational McDonald’s closes its 850 stores in Russia. The company explains that it is closing, but that it will maintain the salary of its 62,000 employees and the payments to its suppliers. Those restaurants represent 2% of global sales, about 9% of its revenue and 3% of its operating income.
Coca Cola
The American company Coca-Cola also suspends activity in Russian territory and will adapt “as circumstances evolve.” Coca-Cola is another symbol of the commercial and iconographic power of the United States.
starbucks
The Starbucks chain announced Tuesday that it was closing all establishments in Russia, temporarily.
PepsiCo
The PepsiCo company suspends its activity only partially. It stops supplying soft drinks, but continues with the sale and distribution of dairy products and infant formulas.
danone
The Danone company explained on the LinkedIn social network this Sunday that they have “decided to suspend all investment projects in Russia”, and that they would maintain the “production and distribution of fresh dairy products and infant nutrition to continue satisfying the essential food needs of the population. local”.
Heineken
The Dutch brewery Heineken announced on Wednesday that it will immediately stop producing and selling its beer in Russia.
technology companies
Manzana
The technology company has suspended commercial activity and that of the Apple Pay payment application.
amazon
Amazon blocked new access to its cloud services in Russia and Belarus. In addition, Amazon’s web service specified that they do not have offices or data centers in Russia and that their main clients are multinational companies with local teams based in that country.
Intel
The technology company Intel, one of the world’s leading microchip manufacturers, has also suspended all its shipments to Russia or Belarus.
Samsung
Samsung suspends the sale of devices and chips to Russia.
microsoft
The computer giant will stop selling new products, although existing contracts will not be affected.
Google will cease the sale of its advertising services in the country and removed it from the payment platform. In addition to restricting the content that Russian media can publish on Youtube.
finance companies
Visa, Mastercard and American Express
Financial companies announced this weekend the temporary suspension of all their activities in Russia.
PayPal
The online payment platform has decided to stop operating in Russia, while facilitating transfers to Ukraine.
Entertainment
Netflix
Netflix, on Tuesday, announced that it was suspending its service in Russia.
Spotify
The Spotify company closed its office in Russia and is restricting programs owned and operated by media affiliated with the Russian state.
Disney
Disney suspended the release of its films in Russia, including ‘Doctor Strange in the Multiverse of Madness’ and Pixar’s ‘Lightyear’.
WarnerMedia
The Warner Media company also canceled its premieres in the country, the first film that has not been released in Russia has been ‘Batman’.
Retail and textile sector
Inditex
The textile giant Inditex, owner of Zara, closes its 502 stores in the country.
H&M
The second largest textile giant in the world has also closed its stores in Russia.
Other textile brands that close their stores are: Mango, Adidas, Nike, Levi Strauss and Cougar.
In addition to luxury brands: prada and swarovski.
Ikea
The Ikea corporation has also closed its stores in Russia temporarily.
Social media
Goal
Meta, the company they belong to Facebook, Instagram and WhatsAppblocks access to the Russian media Sputnik and RT.
The social network Twitter is also implementing measures to reduce the visibility and amplification of Russian media content.
TikTok
The video content social network TikTok has announced that it will prohibit the upload of content or the live broadcast of any person or institution from Russia.
Russia’s ‘playpen’ for companies
The Putin government has created a ‘corralito’ since companies that leave the country cannot withdraw more than 10,000 dollars, about 9,120 euros. This measure has been imposed by the Central Bank of Russia that fixes this tmaximum ope for cash withdrawal of foreign currency deposits until next September 9.
Citizens with foreign currency accounts will not be able to withdraw more than $10,000, if exceeds that amount, the money will be paid in rubles at the corresponding exchange rate.
This prohibition joins that of transfer currency abroador, in force in the country since last February 28. In addition, Putin decreed that companies with economic activities abroad convert 80% of their income into rubles.
Source: Lasexta
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
