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Companies that are WITHDRAWING, SUSPENDINGSCALING BACK, BUYING TIME or DIGGING IN on Russian Operations
(Updated by Jeffrey Sonnenfeld, March 13) SOURCE Yale University  

bulletCorps. DIGGING IN – Defying Demands for Exit or Reduction of Activities (37 Companies)
bulletCorps. BUYING TIME – Holding Off New Investments/Development (52 Companies)
bulletCorps SCALING BACK – Reducing Current Operations (26 Companies)
bulletCorps SUSPENDING – but Keeping Options Open for Return (186 Companies)
 
#1. WITHDRAWAL - Clean Break - Surgical Removal, Resection (165 Companies) (As of Mar 20)
Accenture exiting Russia completely
Acronis suspend operations in Russia
Activision Blizzard suspend all sales in Russia
Adenza suspend operations in Russia
AECOM suspend operations in Russia
AerCap cease lending to Russians
Airbnb suspend bookings in Russia
Alaska Airlines suspend Russian partnerships
Alcoa suspend all business with Russia
Aldi remove products from Russia
Allen & Overy refuse new Russian partnerships but continue existing
AMD suspend all sales to Russia
American Airlines no flying over Russian airspace
Asda remove products from Russia
Asian Infrastructure Investment Bank curtail Russian access to capital markets
Asos suspend all shipments to Russia
Autodesk suspend operations in Russia
Avery Dennison exit Russian operations
Avid suspend all sales to Russia
Baker Botts suspend operations in Russia
Baker McKenzie suspend services for all Kremlin entities only
Baker Tilly gradual wind down of operations in Russia
BBDO exit Russian operations
BCG suspend all consulting in Russia
BlackRock curtail Russian access to capital markets
Bolt suspend Russian partnerships
Boohoo Group suspend all shipments to Russia
Booking suspend bookings in Russia
BP suspend operations/divest from 20% Rosneft stake
British American Tobacco suspend operations in Russia
Brown-Forman suspend commercial operations in Russia
Bryan Cave exit Russian operations
Bumble suspend operations in Russia
Carnival discontinue Russia itineraries
Centrica exit gas supply partnership with Gazprom
Clarivate exit Russian operations
Clifford Chance suspend certain Russian relationships
Coupa suspend operations in Russia
Coursera suspend operations in Russia
Crocs suspend D2C business
Cummins exit Russian operations
Daimler suspending all business in Russia
DB Schenker suspend all shipments to Russia
DDB exit Russian operations
Dechert suspend operations in Russia
Deezer suspend operations in Russia
Deloitte leaving Russia completely
Delta Air Lines suspend agreement with Aeroflot
Dentons exit Russian operations
Dentsu International divest joint venture/leave Russia
DLA Piper suspend certain operations in Russia
DXC Technology leaving Russia completely
EarthDaily Analytics suspend operations in Russia
eBay suspend all shipments to Russia
Electronic Arts suspend all operations in Russia
Eni divest Russian pipeline
EPAM discontinue servicing Russian customers
Equinor exit joint ventures in Russia
Esri curtailing sales to Russia
Etsy deactivate all listings from Russian sellers
Eurovision ban on all Russian competition
Eversheds Sutherland close Russia office
Expedia suspend bookings in Russia
Exxon exit Rosneft partnership
EY leaving Russia completely
Farfetch suspend all shipments to Russia
Fazer suspend operations in Russia
FICO exiting all work in Russia
Ferragamo suspend all shipments to Russia
FIFA ban Russian athletes from competing
Fitch suspend operations in Russia
Formula One suspend all operations in Russia
Fortinet suspend operations in Russia
Freshfields suspend certain Russian partnerships
Geodis suspend all shipments to Russia
Global Foundries suspend all shipments to Russia
Grainpro suspend all operations in Russia
Grammarly suspend operations in Russia
Grant Thornton closing business in Russia
Herbert Smith suspend operations in Russia
Hogan Lovells exit Russian operations
ICBC curtail Russian access to capital markets
Intercontinental Exchange curtail Russian access to capital markets
International Boxing Federation ban on all Russian competition
International Cat Federation ban Russian cats from competitions
International Cycling Union ban on all Russian competition
International Ice Hockey Federation ban on all Russian competition
International Skating Union ban on all Russian competition
International Tennis Federation suspend Russian partnerships
International Weightlifting Federation ban on all Russian competition
Interpublic Group exit Russian operations
IOC ban Russian athletes from competing
J Sainsbury remove products from Russia
JetBrains suspend all activity indefinitely
Knight Frank suspend new investments in Russia
Korean Air Lines no flying over Russian airspace
KPMG leaving Russia completely
Kuehne + Nagel AG suspend all shipments to Russia
Latham & Watkins suspend operations in Russia
Linklaters suspend operations in Russia
Live Nation Entertainment suspend all operations in Russia
London Stock Exchange curtail Russian access to capital markets
Marsh McLennan exit operations in Russia
McKinsey suspend all consulting in Russia
Monroe Energy suspend partnerships with Russia
Moody's suspend operations within Russia
Morgan Lewis suspend operations in Russia
Morrisons remove products from Russia
MSC suspend all shipments to Russia
MSCI curtail Russian access to capital markets
Nasdaq curtail Russian access to capital markets
Netflix suspend operations in Russia
Netscout suspend Russian operations
New Development Bank curtail Russian access to capital markets
Norton Rose Fulbright exit from Russia
Norwegian Cruise Lines discontinue Russian itineraries
Oceana Cruises discontinue Russian itineraries
"Omnicom Group, Inc." exit Russian operations
Omnicom Media Group exit Russian operations
OMV divest Russian projects
OneWeb suspend use of Russian airspace
Orkla exit Russian operations
Par Pacific suspend partnerships with Russia
Paulig suspend operations in Russia
Publicis Group cede ownership to local affiliates
PwC leaving Russia completely
R&A ban on all Russian competition
Radio Free Europe suspend operations in Russia
Regent Seven Seas  Cruises discontinue Russian itineraries
Roku remove Kremlin-linked propaganda and ads
Rolex suspend exports to Russia
S&P curtail Russian access to capital markets
Sabre suspend partnership with Aeroflot
Savills suspend new investments in Russia
Shell suspend operations in Russia
Signet Jewelers suspend operations in Russia
Spotify closed office and other restrictions
Squire Patton Boggs suspend operations in Russia
Stanley Black & Decker suspend operations in Russia
State Street curtail Russian access to capital markets
Swarovski suspend all sales in Russia
Take-Two Interactive suspend all sales in Russia
TJ Maxx divest Familia subsidiary
TripAdvisor remove Kremlin-linked propaganda and ads
Uber divest from partnership with Yandex
UEFA ban Russian athletes from competing
Uniper SE suspend new Russian gas purchases/divest Unipro
United Airlines no flying over Russian airspace
Upwork suspend operations in Russia
Vanguard suspend operations in Russia
Waitrose remove products from Russia
WeWork planning divestment of Russian operations
White & Case wind down Russian operations
Winston & Strawn suspend operations in Russia
Wintershall Dea AG exit Russian investments
Women's Tennis Assoc suspend Russian partnerships
World Athletics Council ban on all Russian competition
World Boxing Association ban on all Russian competition
World Boxing Council suspend Russia from title fights
World Boxing Organization ban on all Russian competition
World Federation of Exchanges suspend all Russian members and affiliates
World Rowing Federation ban on all Russian competition
World Rugby Union ban on all Russian competition
WPP PLC suspend all operations in Russia
WWE suspend all operations in Russia
YOOX suspend all shipments to Russia
 
#2. SUSPENSION – Keeping Options Open for Return (186 Companies)
3M suspend operations in Russia
Abrdn suspend investments in Russia and reduce exposure
Adidas suspend operations in Russia
Adobe suspend all sales in Russia
ADP suspend new sales/services to Russia
Airbus suspend supply of parts to Aeroflot
Akamai suspend operations in Russia
Akin Gump suspend operations in Russia
Alphabet suspend all operations in Russia
Alstom suspend shipments to Russia
Amazon suspend operations in Russia
American Express suspend operations in Russia
Amway suspend operations in Russia
Anheuser-Busch suspend all shipments to Russia
Apple suspend all sales
Assicurazioni Generali exit Russia completely
Aston Martin suspend all shipments to Russia
Atlas Copco suspend deliveries in Russia
Atlassian suspend new software sales to Russia
Bain suspend consulting for all Russian businesses
Bank of China curtail Russian access to capital markets
Bentley suspend all shipments to Russia
Boeing suspend operations in Russia/titanium purchases
Bombardier restrict new Russian business
Bridgestone Tire suspend manufacturing in Russia and shipments into
Budvar suspend all shipments to Russia
Burberry suspend all shipments to Russia
Burger King halt corporate support for franchises
Canada Goose suspend all shipments to Russia
Canadian Tire close Russia stores
Canon suspend deliveries in Russia
Caterpillar suspend Russian manufacturing facilities
CBRE suspend new investments in Russia
Chanel suspend all operations in Russia
Chipperfield suspend operations in Russia
Cisco suspend all operations in Russia
Citi expand the scope of the exit process
Citrix suspend all sales to Russia
Cleary Gottlieb suspend Russian operations
Clorox suspend all business activity in Russia
CMA CGM suspend all shipments to Russia
Coca-Cola suspend certain operations in Russia
Cogent Communications cut all internet to Russia
Commerzbank suspend operations in Russia
Continental suspend operations at a factory
Dassault Aviation suspend all shipments to Russia
Debevoise & Plimpton suspend operations in Russia
Dell suspend all shipments to Russia
Deutsche Bank wind down business in Russia
DHL suspend all shipments to Russia
Diageo suspend all shipments to Russia
DirecTV cut Kremlin backed TV networks
Discover suspend efforts to establish Russian presence
Disney pause new content releases
DSV A/S suspend all shipments to Russia
Ericsson suspend all shipments to Russia
Estee Lauder suspend operations in Russia
FedEx suspend all shipments to Russia
Ferrari suspend sales in Russia
Ford suspend joint ventures in Russia
GM suspend all shipments to Russia
Grupo Bimbo suspend Russian operations
H&M suspend all shipments to Russia
Hapag Lloyd suspend all shipments to Russia
Harley-Davidson suspending all business in Russia
Heidrick & Struggles suspend operations in Russia
Heineken suspend operations in Russia
Herbalife suspend sales and shipments to Russia
Hermes suspend all operations in Russia
Hitachi Construction suspend all shipments to Russia
HMM suspend all shipments to Russia
Honda suspend all shipments to Russia
Honeywell suspend virtually all sales in Russia
HP Inc. suspend all shipments to Russia
HP Enterprise (Independent from HP Inc.) suspend all shipments to Russia
Hyundai suspend manufacturing in Russia
IBM suspend technology sales to Russia on Feb 24
Ikea suspend all operations in Russia
Imperial Brands suspend operations in Russia
Indeed suspend service in Russia
Inditex close Russian stores and suspend sales
Intel suspend sales to Russia
Intuit suspend customer accounts
Iveco suspend deliveries to Russia
Jaguar suspend all shipments to Russia
JCB suspend operations in Russia
JD Sports suspend operations in Russia
Johnson Controls suspend operations in Russia
Juniper Networks suspend sales in Russia
JYSK suspend operations in Russia
Kering close all stores in Russia
Kinross Gold suspend operations in Russia
Komatsu suspend all shipments to Russia
Lego suspend all shipments to Russia
Leica Camera AG suspend operations in Russia
Levi Strauss suspend all sales in Russia
Lexmark suspend shipments to Russia
LG Electronics suspend shipments to Russia
Logitech suspend shipments to Russia
L'Oreal suspend operations in Russia
Louis Dreyfus suspend operations in Russia
Lumen cut networks to Russia
LVMH suspend all operations in Russia
Maersk suspend all shipments to Russia
Magna suspend Russian plants
Mango suspend direct operations in Russia
Marks & Spencer suspend all shipments to Russia
Mastercard suspend operations in Russia
Mattel suspend shipments into Russia
Mazda suspend all shipments to Russia
McCain Foods suspend operations in Russia
McCormick suspend operations in Russia
McDonald's suspend direct operations/restaurants
Mercedes-Benz suspend all shipments to Russia
Meta suspend Russian advertising
Metso Outotec suspend all shipments to Russia
Mettler Toledo suspend all shipments to Russia
Microsoft suspend all operations in Russia
Moncler suspend operations in Russia
Mothercare suspend operations in Russia
MVRDV suspend operations in Russia
Neste Oyj suspend purchases of Russian oil
NHL pause all partnerships in Russia
Nike suspend all operations in Russia
Nintendo suspend all sales in Russia
Nissan suspend all shipments to Russia
Nokia suspend all shipments to Russia
Nvidia suspend all sales in Russia
Oracle suspend all operations in Russia
Panasonic suspend operations in Russia
Papa John's suspend support for all Russian franchises
Paramount pause new content releases to Russia
Payoneer close Russian accounts
Paypal suspend operations in Russia
Prada suspend operations in Russia
Preem AB suspend purchases of Russian oil
Puma suspend all shipments to Russia
PVH suspend operations in Russia
Qualcomm suspend shipments to Russia
Rabobank curtail Russian access to capital markets
Raytheon suspend operations in Russia
Remitly Global stop accepting new users in Russia
Richemont suspend all operations in Russia
Ricoh suspend shipments to Russia
Rockwell Automation suspend operations in Russia
Rolls Royce suspend all shipments to Russia
Salesforce suspend operations in Russia
Samsonite International suspend operations in Russia
Samsung suspend all shipments to Russia
Sandvik suspend all operations in Russia
SAP suspend all sales to Russia
Scandinavian Tobacco suspend most operations in Russia
Scania suspend all sales in Russia
Skoda suspend all production in Russia
Snap suspend all sales to Russia
SonoSim suspend distributor relationship in Russia
Sony pause release of new films in Russia
Starbucks suspend all operations in Russia
Stellantis suspend operations in Russia
Subaru suspend all shipments to Russia
Swatch suspend direct operations in Russia
Sylvamo suspend operations in Russia
Thermo Fisher suspend sales and manufacturing in Russia
TikTok suspend operations in Russia
Timken suspend operations in Russia
Toyota suspend all shipments to Russia
Trane Technologies suspend shipments to Russia
Trimble suspend all sales in Russia
TSMC suspend all shipments to Russia
Twitter suspend certain operations in Russia
Under Armour suspend all shipments to Russia
Uniqlo/Fast Retailing suspend operations in Russia
Universal suspend operations in Russia
UPS suspend all shipments to Russia
Valero Energy suspend purchases of Russian oil
Valio suspend operations in Russia
Visa suspend operations in Russia
Viva Energy suspend purchases of Russian oil
VMWare suspend operations in Russia
Volkswagen suspend all shipments to Russia
Volvo suspend all shipments to Russia
WarnerMedia pause new content releases
Western Union suspend operations in Russia
Wise PLC suspend Russian partnerships
Xerox suspend shipments to Russia
YouTube suspend operations in Russia
ZHA suspend operations in Russia
 
#3. SCALING BACK – Reducing Current Operations (26 Companies)
Abbvie "suspend aesthetics operations, pause new clinical trials"
Allianz meaningfully reduce exposure to Russia
Amadeus IT Group suspend partnership with Aeroflot
Authentic Brands Group - Reebok phased suspension of operations in Russia
Bacardi paused exports to Russia but not domestic operations
Bosch suspend some shipments and plants but not all
Bunge suspend exports but continue certain domestic
Carlsberg suspend exports and certain operations
Coinbase block certain illicit Russian accounts but not all
Deere suspend shipments into Russia only
Dow suspend investments/some purchases but not all
Fieldfisher suspend certain Russian relationships
GE suspend certain operations but continue others
Goldman Sachs wind down business in Russia but buy Russian debt
HSBC curtail Russian access to capital markets
ING NV curtail Russian access to capital markets
JPMorgan wind down business in Russia but buy Russian debt
Kearney suspend certain operations in Russia
Michelin Tire halting production at some plants/reviews
Nalco Water (Ecolab) suspended services except services critical to health
Natura suspend some subsidiary operations but not all
NielsenIQ suspend consulting service but not core business
Nokian Tyres meaningfully reduce production in Russia
Pepsi suspend operations in Russia except essentials
Sidley Austin suspend services for all Kremlin entities
Skadden suspend certain operations in Russia but not all
Whirlpool limiting production in Russia
 
#4. BUYING TIME – Holding Off New Investments/Development (52 Companies)
Abbott Labs suspend non-essential business activity
Accor suspend new investments/development
ADM unspecified scaling down of non-essential operations
Air Liquide suspend investment/development but not operations
Amerisource Bergen suspend new business initiatives but continue existing
Arconic suspend new contracts but continue existing
Baker Hughes suspend new investments/development
Barilla suspend new investments/advertising
BASF SE suspend new Russian relationships but not existing
Bayer suspend non-essential business activity
Cargill unspecified scaling down of non-essential operations
Colgate-Palmolive continue essential health and hygiene products
Coty suspend new investments and advertising only
Danone suspend new investment in Russia only
Dunkin Donuts suspend new investments and developments only
Focus Brands - Cinnabon suspend new investments/development
General Mills suspend capital investments/advertising for JV
GlaxoSmithKline suspend advertising/new clinical trials in Russia
Halliburton suspend future business in Russia
Henkel suspend investments in Russia
Hilton suspend new investments/close corporate office
Hines suspend new investments in Russia
Hyatt suspend investments and new developments
Intercontinental Hotels suspend new investments/close corporate office
Japan Tobacco suspend new investments in Russia
Johnson & Johnson pause patient enrollment in ongoing trials
Kellogg suspend new investments/continue essential products
Kimberly-Clark suspend new investments in Russia
Kraft Heinz - JBS suspend new investments but not domestic operations
Lamb Weston suspend new investments but not domestic operations
Linde suspend new development/investments
Marriott suspend new investment/close corp. office
Mars suspend advertising/new investments in Russia
Merck pause new investments/clinical trial enrollment
Mohawk Industries suspend new investments in Russia
Mondelez - Nabisco suspend new investments/advertising
Nestle suspend new investments/advertising
Norsk Hydro freeze Russian investments/no new contracts
Otis Worldwide suspend new investments/new contracts
Pfizer suspend new investments/clinical trials in Russia
Philip Morris suspend new investments in Russia
Pirelli suspend new investments in Russia
Procter & Gamble suspend new investment/advertising in Russia
Reckitt Benckiser Group suspend new investments/advertising in Russia
Sanofi suspend new investment/advertising in Russia
Schlumberger suspend new investments/development
Schneider Electric suspend new investments in Russia
Siemens freeze new business in Russia
Siemens Energy AG (Independent) freeze new business in Russia
Total Energies suspend new investmenta in Russia
Trafigura suspend new investments in Russia
Unilever suspend new investments but not domestic operations
Yum Brands suspend new investments in Russia
 
#5. DIGGING IN – Defying Demands for Exit or Reduction of Activities (37 Companies)
Air Products "2 offices, 130 staff, and a plant in the Rostov region"
AstraZeneca 250 staff and Kaluga production facility
Asus not disclosed publicly
Auchan-Retail $3.5 billion in revenue from Russia
Ball Corporation 3 plants in Russia
BNP Paribas $3.3 billion in net exposure to Russia
Bose not disclosed publicly
Calfrac Well Services 11% of revenues from Russia
Cloudflare not disclosed publicly
Credit Suisse $1 billion in net exposure to Russia
Decathlon "at least 50 stores in Russia, $300MM revenue"
Elsevier Russian accounts
Emerson Electric Metram subsidiary in Chelyabinsk
Emirates Airlines not disclosed publicly
Fortive not disclosed publicly
Geberit 2% of revenue from Russia
Glencore equity investments in Rosneft and others
Greif 9 plants in Russia
Gruma "9 plants in Russia, Greif Perm and Greif Vologda in Russia"
ID Logistics significant Russian subsidiary
International Paper significant Russian joint venture
IPG Photonics high power laser sales in Russia
Koch Industries several business lines in Russia
Leroy Merlin $4 billion in revenue from Russia
Liebrecht & Wood commercial real estate in Russia
Manitowoc significant sales to Russia
Metro $3 billion in revenue
Oriflame Cosmetics 16% of revenue from Russia
Polpharma investment in Akrikhin
PPG $150MM in revenue from Russia/paint facility in Lipetsk
Raiffeisen $25 billion in net exposure to Russia
Renault "local workforce of 40,000 and 10% of revenues " Renault suspends Moscow plant -- $2.4bn worth of Russian assets prove too toxic
Rockwool 4 factories and 1200 employees (suspended some new investment)
SC Johnson manufacturing facility in Chudovo and sales
Societe Generale $20 billion in net exposure to Russia and 2.8% of income
Subway 446 franchised locations
Weatherford International partnerships in Russia
Young Living distributors in Russia
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