#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 |
|
© Yale Chief Executive
Leadership Institute 2022 |
|
|