Russia latest: Every company leaving Russia as Shell and McDonald's make huge announcement
RUSSIA was dealt a crushing blow today as McDonald's announced they would cease business in the country, following Shell last week. Which companies have pledged to leave Russia so far?
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McDonald's announced plans to suspend business in Russia today, with the country continuing to sustain severe losses amid its invasion of Ukraine. The company has announced it will sell off its business in the country, citing Ukraine's humanitarian crisis. The fast-food chain will cease business after becoming one of the first to operate in Russia after the Soviet Union collapsed 32 years ago.
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The Mcdonald's announcement follows petrol giant Shell, which announced it would sell off its business last week.
Executives sold off the Russian portion of their business to Lukoil for an undisclosed sum.
Shell said: "Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business."
McDonald's and Shell are a drop in the ocean of businesses that have curtailed their involvement with Russia since the invasion began.
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Since the conflict began, more than 1,000 have dialled back their business dealings with Putin's regime.
Not all of them have decided to cease business altogether, however.
Most have taken actions like pausing shipments and investments, and may still take income from the country.
Below is a snapshot of the major companies suspending business in Russia.
Food and drink firms:
- AB InBev
- Burger King
- Coca-Cola
- Heineken
- McDonald's
- Nestle
- PepsiCo
- Starbucks
- Yum Brands
Financial services:
- Mastercard
- Visa
- American Express
- Moody's
- Goldman Sachs
- JPMorgan Chase
- Western Union
- Citigroup
- PayPal
Car manufacturers:
- General Motors
- Toyota
- Volkswagen
- Nissan
- Ford
Aviation manufacturers:
- Boeing
- Airbus
Hospitality:
- Hyatt
- Hilton
- Marriott
- Retail
- Estee Lauder
- Crocs
- H&M
- Ikea
- Imperial Brands
- Inditex
- Mothercare
- Mondelez
- Procter and Gamble
- Unilever
Entertainment:
- DirecTV
- Disney
- WarnerMedia
Tech firms:
- Airbnb
- Amazon
- Apple
- Hitachi
- IBM
- Intel
- Microsoft
- Netflix
- Nintendo
- Roku
- Sony
- Spotify
- YouTube
Consultants:
- Accenture
- Deloitte
- EY
- KPMG
- PwC
Energy firms:
- BP
- Equinor
- Exxon
- Rio Tinto
- Shell
- TotalEnergies
