Since Russia’s invasion of Ukraine in late February, companies with commercial relationships with Russia have been faced with the decision to stop doing business there, curtail operations, or continue operating in a country regarded as an international pariah.
Companies may want to consider public relations in their decision, as people have been keeping track. Jeffrey Sonnenfeld, senior associate dean for leadership studies at Yale School of Management, and a team of experts, research fellows, and students at the Yale Chief Executive Leadership Institute have been updating a list of companies doing (or not doing) business with Russia. (These are the companies refusing to leave Russia.)
To identify the companies exiting Russia completely, 24/7 Wall St. reviewed their report “Over 450 Companies Have Withdrawn from Russia – But Some Remain,” updated April 1, 2022. Of the 178 entities categorized under “withdrawing,” we selected the 87 that have taken the strongest stance based on certain tags such as exiting Russia completely, full divestiture from Russia, and suspend all business with Russia, among others. Data was pulled early April.
Of the 87 companies that are leaving Russia completely, 57 are from the United States. Many of the American businesses that left Russia are in what Sonnenfeld classifies as “asset-light” sectors such as accounting, law, advertising, entertainment, and technology service firms. They can more easily sever ties with Russia than, say, capital-heavy companies such as energy businesses. Among the notable U.S. businesses pulling out of Russia are Airbnb, Alcoa, Live Nation Entertainment, eBay, and Expedia. (Find out if any of these are America’s favorite retailer.)
Ten companies from the United Kingdom have cut links with Russia, including clothing retailers, law firms, and energy company Shell.
Some of the other bold-faced companies exiting Russia include automaker Daimler (Germany), clothing business Ferragamo (Italy), beer maker Heineken (the Netherlands), and jewelry and silverware manufacturer Swarovski (Liechtenstein).
Click here to see the companies that have suspended all operations in Russia.
Click here to read our detailed methodology.
Accenture
> Action: Exiting Russia completely
> Country: Ireland
> Industry: Computer systems design services
[in-text-ad]
Acronis
> Action: Suspend operations in Russia
> Country: United States
> Industry: Computer and office machine repair and maintenance
Activision Blizzard
> Action: Suspend all sales in Russia
> Country: United States
> Industry: Data processing, hosting, and related services
Adenza
> Action: Suspend operations in Russia
> Country: United Kingdom
> Industry: Custom computer programming services
[recirclink id=1076761]
AECOM
> Action: Suspend operations in Russia
> Country: United States
> Industry: Engineering services
Air Products
> Action: Full divestiture from Russia
> Country: United States
> Industry: Industrial gas manufacturing
Airbnb
> Action: Suspend bookings in Russia
> Country: United States
> Industry: Data processing, hosting, and related services
[in-text-ad-2]
Alcoa
> Action: Suspend all business with Russia
> Country: United States
> Industry: Metal service centers and other metal merchant wholesalers
AMD
> Action: Suspend all sales to Russia
> Country: United States
> Industry: Electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesalers
Asos
> Action: Suspend all shipments to Russia
> Country: United Kingdom
> Industry: Other clothing stores
Assicurazioni Generali
> Action: Exit Russia completely
> Country: Italy
> Industry: Financial services
[in-text-ad]
Autodesk
> Action: Suspend operations in Russia
> Country: United States
> Industry: Computer and office machine repair and maintenance
Avery Dennison
> Action: Exit Russian operations
> Country: United States
> Industry: Electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesalers
Avid
> Action: Suspend all sales to Russia
> Country: United States
> Industry: Other miscellaneous durable goods merchant wholesalers
[recirclink id=1080131]
Baker Botts
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
BBDO
> Action: Exit Russian operations
> Country: United States
> Industry: Offices of other holding companies
BCG
> Action: Suspend all consulting in Russia
> Country: United States
> Industry: Other management consulting services
[in-text-ad-2]
Boohoo Group
> Action: Suspend all shipments to Russia
> Country: United Kingdom
> Industry: Other clothing stores
Booking
> Action: Suspend bookings in Russia
> Country: United States
> Industry: Travel agencies
Bose
> Action: Suspend all operations in Russia
> Country: United States
> Industry: All other general merchandise stores
British American Tobacco
> Action: Exit Russian operations
> Country: United Kingdom
> Industry: Tobacco manufacturing
[in-text-ad]
Bryan Cave
> Action: Exit Russian operations
> Country: United States
> Industry: Offices of lawyers
Bumble
> Action: Suspend operations in Russia
> Country: United States
> Industry: Software publishers
Carlsberg
> Action: Exit Russia completely
> Country: Denmark
> Industry: Breweries
[recirclink id=1077932]
Clarivate
> Action: Exit Russian operations
> Country: United Kingdom
> Industry: Other management consulting services
Coupa
> Action: Suspend operations in Russia
> Country: United States
> Industry: Blank magnetic and optical recording media manufacturing
Coursera
> Action: Suspend operations in Russia
> Country: United States
> Industry: Software publishers
[in-text-ad-2]
Cummins
> Action: Exit Russian operations
> Country: United States
> Industry: Other motor vehicle parts manufacturing
Daimler
> Action: Suspending all business in Russia
> Country: Germany
> Industry: Automobile manufacturing
DB Schenker
> Action: Suspend all shipments to Russia
> Country: Germany
> Industry: Freight transportation arrangement
DDB
> Action: Exit Russian operations
> Country: United States
> Industry: Offices of other holding companies
[in-text-ad]
Dechert
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
Deezer
> Action: Suspend operations in Russia
> Country: France
> Industry: Engineering services
Deloitte
> Action: Leaving Russia completely
> Country: United States
> Industry: Other accounting services
[recirclink id=1071182]
Dentons
> Action: Exit Russian operations
> Country: Switzerland
> Industry: Offices of lawyers
DXC Technology
> Action: Leaving Russia completely
> Country: United States
> Industry: Custom computer programming services
EarthDaily Analytics
> Action: Suspend operations in Russia
> Country: United States
> Industry: Other scientific and technical consulting services
[in-text-ad-2]
eBay
> Action: Suspend all shipments to Russia
> Country: United States
> Industry: Electronic shopping and mail order houses
Electronic Arts
> Action: Suspend all operations in Russia
> Country: United States
> Industry: Software publishers
Expedia
> Action: Suspend bookings in Russia
> Country: United States
> Industry: Travel agencies
EY
> Action: Leaving Russia completely
> Country: United States
> Industry: Other accounting services
[in-text-ad]
Farfetch
> Action: Suspend all shipments to Russia
> Country: United Kingdom
> Industry: Electronic shopping and mail order houses
Fazer
> Action: Suspend operations in Russia
> Country: Finland
> Industry: Perishable prepared food manufacturing
Ferragamo
> Action: Suspend all shipments to Russia
> Country: Italy
> Industry: Other clothing stores
[recirclink id=1067759]
FICO
> Action: Exiting all work in Russia
> Country: United States
> Industry: All other support services
Fitch
> Action: Suspend operations in Russia
> Country: United States
> Industry: Credit bureaus
Formula One
> Action: Suspend all operations in Russia
> Country: United States
> Industry: Arts, entertainment, and recreation
[in-text-ad-2]
Fortinet
> Action: Suspend operations in Russia
> Country: United States
> Industry: Software publishers
Geodis
> Action: Suspend all shipments to Russia
> Country: France
> Industry: Freight transportation arrangement
Global Foundries
> Action: Suspend all shipments to Russia
> Country: United States
> Industry: Electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesalers
Grainpro
> Action: Suspend all operations in Russia
> Country: United States
> Industry: All other miscellaneous store retailers
[in-text-ad]
Grammarly
> Action: Suspend operations in Russia
> Country: United States
> Industry: Computer systems design services
Heineken
> Action: Exit Russia completely
> Country: Netherlands
> Industry: Breweries
Herbert Smith
> Action: Suspend operations in Russia
> Country: Australia
> Industry: Offices of lawyers
[recirclink id=1080131]
Hogan Lovells
> Action: Exit Russian operations
> Country: United Kingdom
> Industry: Offices of lawyers
Interpublic Group
> Action: Exit Russian operations
> Country: United States
> Industry: Marketing consulting services
JetBrains
> Action: Suspend all activity indefinitely
> Country: Czech Republic
> Industry: Custom computer programming services
[in-text-ad-2]
KPMG
> Action: Leaving Russia completely
> Country: United States
> Industry: Other management consulting services
Kuehne + Nagel AG
> Action: Suspend all shipments to Russia
> Country: Switzerland
> Industry: Freight transportation arrangement
Latham & Watkins
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
Live Nation Entertainment
> Action: Suspend all operations in Russia
> Country: United States
> Industry: Arts, entertainment, and recreation
[in-text-ad]
Marsh McLennan
> Action: Exit operations in Russia
> Country: United States
> Industry: Other management consulting services
McKinsey
> Action: Suspend all consulting in Russia
> Country: United States
> Industry: Administrative management and general management consulting services
Morgan Lewis
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
[recirclink id=1077932]
Netflix
> Action: Suspend operations in Russia
> Country: United States
> Industry: Data processing, hosting, and related services
Netscout
> Action: Suspend Russian operations
> Country: United States
> Industry: Telecommunications resellers
Norton Rose Fulbright
> Action: Exit from Russia
> Country: United Kingdom
> Industry: Offices of lawyers
[in-text-ad-2]
Omnicom Group, Inc.
> Action: Exit Russian operations
> Country: United States
> Industry: Offices of other holding companies
Omnicom Media Group
> Action: Exit Russian operations
> Country: United States
> Industry: Offices of other holding companies
Orkla
> Action: Exit Russian operations
> Country: Norway
> Industry: All other miscellaneous food manufacturing
Paulig
> Action: Suspend operations in Russia
> Country: Finland
> Industry: All other miscellaneous food manufacturing
[in-text-ad]
PwC
> Action: Leaving Russia completely
> Country: United States
> Industry: Other accounting services
Radio Free Europe
> Action: Suspend operations in Russia
> Country: Czech Republic
> Industry: Radio and television broadcasting and wireless communications equipment manufacturing
SAP
> Action: Stop all sales to Russia and shut down cloud operations
> Country: Germany
> Industry: Custom computer programming services
[recirclink id=1071182]
Shell
> Action: Suspend operations in Russia
> Country: United Kingdom
> Industry: Petroleum refineries
Signet Jewelers
> Action: Suspend operations in Russia
> Country: United States
> Industry: Jewelry stores
Squire Patton Boggs
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
[in-text-ad-2]
Stanley Black & Decker
> Action: Suspend operations in Russia
> Country: United States
> Industry: Power driven handtool manufacturing
Swarovski
> Action: Suspend all sales in Russia
> Country: Liechtenstein
> Industry: Jewelry and silverware manufacturing
Take-Two Interactive
> Action: Suspend all sales in Russia
> Country: United States
> Industry: Software publishers
Teradata
> Action: Stopped all business in Russia
> Country: United States
> Industry: Data processing, hosting, and related services
[in-text-ad]
Upwork
> Action: Suspend operations in Russia
> Country: United States
> Industry: Administrative management and general management consulting services
Vanguard
> Action: Suspend operations in Russia
> Country: United States
> Industry: Open end investment funds
[recirclink id=1067759]
Winston & Strawn
> Action: Suspend operations in Russia
> Country: United States
> Industry: Offices of lawyers
WPP PLC
> Action: Suspend all operations in Russia
> Country: United Kingdom
> Industry: Advertising agencies
[in-text-ad-2]
WWE
> Action: Suspend all operations in Russia
> Country: United States
> Industry: Arts, entertainment, and recreation
YOOX
> Action: Suspend all shipments to Russia
> Country: Italy
> Industry: Other clothing stores
Methodology
To identify the companies exiting Russia completely, 24/7 Wall St. reviewed the report “Over 450 Companies Have Withdrawn from Russia – But Some Remain” updated April 1, 2022 by researchers at the Yale school of management. Of the 178 entities categorized in the Yale report under “Withdrawing,” we selected the 87 that have taken the strongest stance based on the tags below, pulled in April 2022.
exiting Russia completely, full divestiture from Russia, suspend all business with Russia, suspend all sales to Russia, suspend all shipments to Russia, exit Russian operations, suspend all consulting in Russia, suspend all operations in Russia, suspending all business in Russia leaving Russia completely, exiting all work in Russia, suspend all activity indefinitely, exit operations in Russia, suspend Russian operations, exit from Russia, stop all sales to Russia and shut down cloud operations, stopped all business in Russia
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