Below we present you a list of companies that are winding down operations in the Russian market or selling Russian assets. This is due to the special operation of Russia on the territory of Ukraine.
Some companies completely terminated their business activity in Russia, others temporarily reduce operations and keep returning options, and some of the brands limit business operations, or stop investments and expansion.
As the situation keeps changing daily, and the management of international corporations can switch from one option of restrictions to another, we have divided the companies into sectors of their activities. The list will be updated.
The Suspension of activities of these companies is, probably, most felt by the Russian citizens, as they got used to seeing these stores and brands all over their cities, so the absence of the usual banner and logos just can’t help but affect everyone’s mood.
Spanish concern Inditex suspends operations in Russia, temporarily closing over 500 stores. This will be painful. Most likely, these brands will be replaced by Chinese and Indian manufacturers. Here is the list of the company’s brands:
Stores of the brands belonging to the LVMH group of companies will be temporarily closed in Russia. Here is the complete list of LVMH brands:
Swarovski, one of the world’s largest suppliers of crystals, jewelry, clothing, and lighting, has suspended sales in Russia.
Hermes, the French high-end fashion house has been closing its stores in Russia since March 5, which means it was one of the first to react to the situation.
Another iconic fashion house, Chanel, also suspended its operations in Russia.
H&M, one of the most famous fashion retailers, decided to temporarily suspend all sales in Russia.
Ikea has closed all its stores in Russia for three months so far. The company suspended its cooperation with suppliers from Belarus. Losing Ikea was the most painful for Russian citizens, and on the last day of its stores’ operations, people were buying literally everything.
Jysk, the Danish furniture retailer closed 13 stores in Russia. The retailer says it’s the final decision.
The chain of construction hypermarkets OBI announced the closure of its business in Russia.
Lego stopped deliveries to Russia. The iconic manufacturer of toys leaves itself a chance to come back to the Russian market, but no predictions.
Mattel, one of the world’s largest toys manufacturer suspends all operations in Russia.
Group of companies Kering is closing stores in Russia. The company owns such luxury fashion brands as:
British retailer Marks & Spencer stopped deliveries to Russia but keeps an option of coming back to the market.
Luxury Jewelry brand Cartier announced the suspension of commercial activities in Russia.
eBay suspended the delivery of orders to Russia from March 3, being one of the first to react to the war.
Decathlon suspends operations in Russia. The brand owned several stores with sportswear and equipment.
Puma announced the suspension of operations in Russia.
Nike followed and suspended all operations in Russia too.
Another sports brand Adidas announced that it was closing its stores in Russia, but it was not leaving the market for good.
PVH Corp. is closing stores and suspending all commercial operations in Russia and Belarus. The company owns the following brands:
The iconic brand of denim, Levi Strauss, is suspending its commercial activities in Russia, including any new investments.
American cosmetics and perfume company Estee Lauder is suspending commercial activities in Russia. The brands of the company are:
British retailer Mothercare, which specializes in selling products for moms and babies, ceases operations in Russia, including shipments of products.
Victoria’s Secret, one of the world’s most famous lingerie and swimwear brand, is temporarily closing all stores in Russia.
Corporation VF, which owns casual fashion and footwear brands Vans and The North Face, announced that it will suspend all of its commercial activities in Russia.
The brands Reserved and Cropp, which are owned by one company, closed all stores in Russia and did not announce any come-back plans.
French cosmetics company LʼOccitane announced the closure of all its stores in Russia, including its online store.
YOOX internet retailer of luxury fashion and accessories suspended all shipments to Russia.
Rolex – the world’s most famous manufacturer of luxury watches suspends all exports to Russia.
Farfetch online retailer of fashion and accessories stopped all shipments to Russia
Ferragamo the luxury manufacturer of clothing and footwear suspends all shipments to Russia.
Crocs, the brand of casual footwear suspended all its D2C business operations.
ASOS, one of the most famous online retailers of affordable fashion and accessories decided to suspend all shipments to Russian clients.
Uniqlo – the Japanese fashion brand has temporarily closed all stores in Russia.
Swatch has temporarily stopped selling its famous watches on the territory of the Russian Federation.
American fashion label Ralph Lauren has closed all stores in Russia.
Iconic fashion house Prada stops all exports and shipments to Russia.
Canada Goose the winter clothing brand suspended all shipments to Russia.
British luxury brand Burberry stops all shipments to Russia.
Another very “noticeable” category of companies is manufacturers of personal care products, cosmetics, and everyday goods. Products disappear from the shelves, and their absence has a great impact on everyday comfort and well-being. Same with the super popular fast food spots.
Procter&Gamble, the world’s largest producer of consumer products, significantly reduced the number of products on the Russian market and stopped all investment and advertising activity. For those who underestimate the scale of the disaster, here is the list of the company’s brands:
British Unilever will stop importing and exporting products from Russia but will continue to supply Russian consumers with goods produced inside the country. Unilever owns such brands as:
Cosmetic giant LʼOreal is closing stores in Russia and suspending all investments in production and advertising. The company produces cosmetics and perfumes under the brands:
PepsiCo and Coca-Cola would suspend their operations in Russia.
Heineken is stopping production of beer under its brand in Russia and all breweries will continue operations.
Nestle stops all advertising campaigns and investments in Russia but will continue to sell its products in Russia.
British tobacco company Imperial Brands is suspending its operations and ceasing sales in Russia.
Philip Morris International intends to curtail production in Russia.
British American Tobacco decided to quit the Russian market entirely.
The Brown-Forman spirits producer will cease operations in Russia. The company owns such alcohol brands as:
Mars, which owns Mars, Snickers, Twix, Bounty, Milky Way, Orbit, Whiskas, and Pedigree announced that it is leaving the Russian market.
Colgate will limit the supply of products in Russia.
Finnish dairy products manufacturer Valio stopped all business operations in Russia.
The coffee producer Paulig is ceasing operations in Russia.
The American company AbbVie stopped supplying Botox and fillers to Russia.
Amway, an international producer of health and beauty products, suspends operations in Russia.
Carlsberg is quitting the Russian market too.
Johnson&Johnson stops supplying personal care products to Russia. The company owns dozens of consumer goods brands, which affect all spheres of life.
The British company Reckitt, which is the manufacturer of Durex, Contex, Vanish, and Nurofen, began the process of transferring ownership of its Russian business.
McDonald’s is closing nearly 850 restaurants in Russia. The sad part here is that the company employs 62,000 people in Russia.
KFC brand owner suspends investments in Russia.
Starbucks suspends operations in Russia.
Burger King will stop supporting restaurants in Russia.
Finnish fast food chain Hesburger plans to close all of its restaurants in Russia and Belarus by the end of the summer.
Dunkin Donuts halts corporate support for Russian franchisees
The exit from the Russian market of automaking companies affects not only the owners of cars all over the country but also most plants engaged in the production of vehicles and automotive parts. The economic situation in many regions depends on these production facilities. Automakers from China increased sales.
The automaking companies which suspended the export of cars or components:
Honda, the famous Japanese automaker has closed sales in Russia.
The automating companies which froze production of their vehicles on the territory of Russia:
Daimler Truck has stopped cooperation with KamAZ.
Japanese Mitsubishi Motors Corporation announced that it is suspending the supply of cars and spare parts to Russia, as well as its production.
Nissan is preparing to shut down its car plant in St. Petersburg and has suspended car exports to Russia.
Ferrari decided to stop the production of cars for the Russian market.
French concern Alstom SA is suspending deliveries and future investments in Russia.
U.S. General Electric announced the suspension of operations in Russia.
Japanese tire manufacturer Bridgestone decided to close its factory in Russia and stop exporting products to Russia.
French tire manufacturer Michelin is suspending its exports to Russia as well as its production activities on its territory.
Italian tire manufacturer Pirelli will reduce its activities in Russia and refuse new investments in the country.
The French power engineering company Schneider Electric has suspended its investments and supplies to Russia and Belarus.
The German company Robert Bosch GmbH announced that it would curtail its activities in Russia.
Renault has halted operations at its plant in Moscow. The group is evaluating its possible options regarding its stake in AvtoVAZ.
The Swedish company SKF, the world’s largest producer of bearings, announced the shutdown of its plant in Russia.
The Japanese company Komatsu, one of the world’s leading manufacturers of special equipment, has halted deliveries to Russia and stopped production at a local factory.
In the age of mobile technology, and especially in a situation where, with the pandemic, most residents have switched to online mode, the negative impact of the suspension of technology companies is very tangible.
Google has suspended the sale of contextual advertising in Russia. The restrictions will affect both the search engine and YouTube video hosting service. Also, Google blocked Russians from buying apps on Google Play, and YouTube cut off monetization.
Apple limited the operation of its payment service Apple Pay and stopped online sales in Russia on its website.
Adobe stopped all new sales of products and services in Russia. Subscriptions that were previously issued will remain valid until their expiration date, but it is not possible to extend them.
Samsung said it has suspended shipments of products to Russia.
Taiwanese computer manufacturer ASUS suspended operations in Russia.
Cogent Communications, a key U.S. Internet provider, begins to stop serving Russian Internet.
Japanese company Panasonic stopped shipping its products to Russia.
Microsoft suspended sales and services in Russia.
AMD and Intel officially ceased chip exports to Russia.
Acer announced that it was leaving Russia.
Qualcomm stopped selling processors to Russian companies.
The online service Grammarly stopped working in Russia and Belarus.
Netscout stopped operating in Russia.
Autodesk, a developer of software for construction and mechanical engineering, has suspended its work in Russia.
EPAM stops serving Russian clients and donates $100 million to Ukrainian employees and their families.
Online music streaming service Spotify has closed its office in Russia.
Dell temporarily stopped selling products in Russia. The company accounted for about 6% of computer shipments in Russia last quarter.
American networking equipment manufacturer Cisco Systems Inc also stopped operations in the markets of Russia and Belarus.
Ericsson stopped supplying equipment for mobile communication networks.
Finnish manufacturer of mobile phones Nokia has also halted its supplies of telecommunications equipment.
Software developer Oracle Corp. ceased operations in Russia; SAP stopped selling software products in Russia.
IT outsourcer Luxoft leaves the Russian market.
Japanese Hitachi halts production in Russia and exports equipment to the country, considering completely suspending all operations there.
Streaming service Twitch stopped payments to Russian bloggers.
Ukrainian IT company Terrasoft stops working with clients in Russia and Belarus.
Nvidia stops selling all of its products in Russia.
The American electronics corporation IBM ceases operations in Russia.
Depositphotos stops all operations in Russia.
One of the world’s leading cloud companies, VMware, suspends all business operations in Russia and Belarus.
The U.S. service Amazon Web Services is suspending its operations in Russia and Belarus. Amazon Prime Video suspended access to customers from Russia.
Internet service provider Lumen officially announced that it was ceasing to sell all of its products and services to Russian companies.
Graphic editor Figma will freeze the corporate accounts of Russian clients.
Xerox stopped shipments of all its products to Russia.
American company Netcracker, which develops solutions for telecom operators, decided to leave the Russian market too.
LG stopped selling equipment to Russia.
Sharp halted deliveries to Russia.
Exit from the Russian market of consulting companies may not be noticed by most people in the country, but it will have a very strong impact on the economic situation in Russia and its banking sector.
Two companies from the world’s Big Four of auditors, KPMG and PriceWaterhouseCoopers (PWC), have announced that they are stopping work in Russia and Belarus because of the invasion of Ukraine.
Major consulting companies McKinsey and BCG are suspending operations in Russia. Both companies have 400 employees in Russia.
Ernst & Young has also decided to follow its colleagues and begun restructuring its Russian firm to separate it from its global network. The auditor will not serve Russian state clients, state-owned enterprises or sanctioned entities, or individuals anywhere in the world.
JPMorgan, the largest U.S. bank holding company by assets, announced that it was winding down its activities in Russia.
Another giant audit firm Deloitte is the latest of the Big Four to divest from its Russian unit. With the exit of Deloitte, the Big Four completely stopped its presence in the Russian Territory.
The IT consulting company Accenture is closing its business in Russia. The company had 2,300 employees in Russia.
Fitch Group has announced that it will suspend its commercial activities in Russia. The ratings and other services provided by the Russian divisions of Fitch Ratings and Fitch Solutions will be affected.
Real estate consultant Colliers is leaving the Russian market. The Russian partners will remain shareholders of the company. Knight Frank follows.
S&P Global Ratings is terminating its commercial activities in Russia. So does the Moody’s.
Goldman Sachs appeared to be the first Wall Street giant to leave Russia.
The German insurance company Allianz SE decided to stop insuring new Russian businesses and will not make new investments in the country.
Global law firm Baker McKenzie is withdrawing from the Russian market and refusing to engage with Russia in any form.
Credit Agricole has suspended operations in Russia.
Mubadala Investment Company from Abu Dhabi, one of the world’s largest sovereign wealth funds, has suspended investments in Russia. It is actually the most noticeable exit of the Middle Eastern huge players.
Another very “painful” category of companies — is online payment platforms. Almost all the largest players in this segment have left Russia and made it impossible for its citizens to transfer money online.
American Express suspended operations in Russia and Belarus. The payment system’s cards will no longer work in stores or ATMs in Russia.
International payment systems Visa and MasterCard announced that they would stop transactions in Russia.
The Japanese payment system JCB will suspend operations in Russia. Cards JCB issued by Russian banks will stop working abroad, and cards of foreign banks – in Russia.
British fintech startup Revolut, whose founder is Russian citizen Nikolai Storonsky, limited transactions with the cards of users in Russia and Belarus.
PayPal stopped the registration of new Russian users starting at the beginning of March.
Payoneer stopped working in Russia because of the war with Ukraine.
Western Union temporarily stops operations in Russia and Belarus. When that “temporarily” stops no one knows.
The exit of the companies from this category will affect the mood of the population lost. Streaming platforms and production companies stop allowing Russian users to watch and listen to the latest releases.
The film production companies that have canceled their upcoming premiers in Russia:
The Walt Disney Company announced that it will not only cancel its premiers but also suspend all of its activities in Russia.
Discovery is shutting down its 15 TV channels in Russia.
Netflix, the most famous video streaming service in the world, closed all services in Russia and stopped registering new clients from its territory.
Sony is stopping all sales of PlayStation and software in Russia. The company has the largest presence in Russia of any console manufacturer.
Warner Music Group, one of the “Big Three” record labels, announced the suspension of operations in Russia.
Sony Music, the second-largest record company in the world, suspends its work in Russia. Universal Music Group also suspended operations in Russia.
Ukrainian online platform with video content, Megogo, has removed all Russian movies from its library and stopped working in Russia.
Bloomberg Agency and the U.S. broadcaster CNN suspended their work in Russia.
Swedish audiobook service Storytel suspended its operations in Russia.
Coursera, a popular online-educational platform, has removed all content from Russian educators. In addition, the company announced several initiatives in support of Ukrainian users.
Condé Nast publishing house temporarily stops its publishing operations in Russia. It publishes the following magazines:
Hearst Magazines withdrew from cooperation with Russian companies. It’s not clear yet, whether the publisher is coming back or not. The list of its magazines:
The accommodation booking services Booking.com and Airbnb have suspended their work in Russia and banned all users from Russia and Belarus.
Upwork, a popular online platform for freelancers, has suspended its work in Russia and Belarus. Some functions remain active, but the company keeps bringing in more and more restrictions.
Bumble, the online-dating application, has stopped its operations in Russia.
BlaBlaCar announced the cessation of business in Russia. Although it still operates on the territory of the country, the Russian subsidiary is completely cut off from the mother company.
Developer platform GitLab stops operating in Russia and Belarus.
OLX Group will not operate in Russia, dividing itself from the Russian Avito, which will become a separate company.
The Big Four Oil service companies stop their investments in Russia:
BP (British Petroleum) announced that it will get rid of its 19.75% stake in Rosneft, Russia’s largest oil company.
The Norwegian oil and gas group Equinor announced that it was pulling out of projects in Russia – the company was winding down its cooperation with Rosneft. On March 15, Equinor declared that it would stop trading Russian oil and oil products.
Exxon Mobil – the largest oil and gas company in the USA began to recall American specialists working in Russia.
Shell, the international gas company, is withdrawing from joint ventures with Gazprom.
The Finnish energy company Fortum stopped all new investment projects in Russia “until further notice” due to the situation in Ukraine.
German energy concern E.ON refused to make new gas purchases from Gazprom traders.
The German engineering company Linde stops developing projects in Russia. The company is winding down its projects in the aggressor country which is under international sanctions.
The world’s largest independent oil trader Vitol Group intends to completely stop trading in oil and oil products of Russian origin by the end of 2022.
The world’s largest steel pipe manufacturer, Tenaris, stops trading and investing in Russia.
Aircraft manufacturers Boeing and Airbus abandoned service and technical support to Russian airlines.
Postal and logistics companies that suspended all delivery options in Russia:
Container lines and hitch also suspended their activities in Russia:
Truck manufacturer Iveco Group halted shipments of vehicles to Russia and Belarus.
Korean Air will suspend all passenger and cargo traffic to and from Moscow and Vladivostok until the end of April. Flights from Seoul to Europe will be rerouted through China, Kazakhstan, and Turkey.
VR Group, Finnish Railways, will stop accepting cargo from Russian leasing companies and shippers.
Not only international manufacturers and companies stopped their relationships with Russia but also sports associations and federations. Here is the list:
As we already mentioned before, the intentions and plans of the companies are changing daily, and we will try to update the list, keeping you informed on the current situation, and adding or removing the names from the list above.