300 companies have announced their withdrawal from Russia

In the days since the first calls for withdrawal, many of the ‘remain’ companies have responded to public backlash and decided to pull out

Photo: McDonald’s has finally bowed to huge international pressure (Image: AFP via Getty Images)

09 March 2022 | James Porteous | Clipper Media News

09 March 2022 | Yale School of Management

Since Putin’s devastating invasion of Ukraine began, 300 companies have announced their withdrawal from Russia in protest.

Nevertheless, some western companies have continued to operate in Russia undeterred; we identify several dozen companies with particularly significant exposure to Russian markets.

In 2022, a boycott of Russia and Belarus was implemented by many companies and organisations in Europe, North America, Australasia and elsewhere after the Russian invasion of Ukraine. The companies involved have withdrawn from Russia, or divested themselves from Russian ties, either as a result of sanctions or in protest of Russian actions.
Wikipedia

In the days since we initially published our list, many of the “remain” companies have responded to public backlash and decided to withdraw, and we are continuously revising our list to reflect these decisions as they are made.

The full, current list of companies that have curtailed operations in Russia as well as those that remain, as of March 9

The list is updated daily by Jeffrey Sonnenfeld and his research team at the Yale Chief Executive Leadership Institute.

Dating App Bumble joins list of companies boycotting Russia

The company said it is removing all of its apps from the Apple App Store and Google Play Store in Russia and Belarus

The Badoo app is Bumble’s more popular offering in the region. In 2021, the combined revenue of Russia, Ukraine and Belarus made up 2.8% of its total revenue, with almost all of it coming from the Badoo app and other revenue. The region made up less than 0.1% of the Bumble app’s revenue.

Uniqlo defends decision to stay open in Russia

The parent company of Japanese casualwear giant Uniqlo on Monday defended a decision to keep Russian stores open even as rivals Zara and H&M suspend operations in the country following its invasion of Ukraine.

Tadashi Yanai, president of Uniqlo operator Fast Retailing, said the conflict should not deprive people in Russia of clothing, a basic human need.

“There should never be war. Every country should oppose it. This time all of Europe clearly opposes the war and has shown its support for Ukraine. Any attempt to divide the world will, on the contrary, strengthen unity,” he said in a statement.