Big companies pulling out of Russia amidst the conflict.
Many companies showed opposition and pulled out of Russia after Putin started his invasion.
Since Ukraine was invaded by the Kremlin forces, Russia suffered badly as a result. More than 1 million Ukrainians were forced to leave their homes because of the continuous shelling of residential areas.
Western allies responded with several economic sanctions to Russian oligarchs, Russia as a country, and Vladimir Putin. Russia's economy took a devastating hit devaluing the Ruble in addition to several companies pulling out of there.
Tech Companies
Many big tech companies showed support for Ukraine after the invasion. Many enterprised abandoned projects happening in Russia or stopped selling their articles. It was announced that Apple would be stopping all sales of iPhones, MacBooks, and other Apple products to Russia.
Facebook, META, Twitter, Google, Get Alphabet Inc, and Netflix limited access to Russia. TV shows and other potential plans for new series were also canceled by Netflix in response. Meanwhile, Spotify closed its Moscow offices.
Automobile Industry
All operations and productions were discontinued by Volkswagen in Russia. The Kaluga and Nizhny Novgorod factories were put on hold until further notice.
On the other hand, exports from General Motors, Ford, BMW, Volvo, and Mercedes-Benz into Russia were stopped.
Aviation
Big planes manufacturer companies such as Boeing and Airbus suspended their building projects and the supply of parts and maintenance for their planes on Russian territory.
Energy Field
A $4 billion oil and gas project was discarded by Exxon Mobil. Meanwhile, Shell ditched its stakes and left major gas projects in Siberia and the Gydan Peninsula.
Retail
Ikea stopped its operations in Russia and Belarus. During the week, fashion giant H&M closed its stores and stopped taking new orders.
Asos and Boohoo did something similar.
Shipping
UPS, DHL, and FedEx stopped their delivery service to Russia and Ukraine amid the invasion.
Sea mail delivery companies such as Maersk and MSC Mediterranean Shipping Company stopped cargo shipments to Russia.
Entertainment
Walt Disney Co said Monday it is pausing the release of theatrical films in Russia.
The WWE cut ties with Russian broadcaster Match.
Lead Image: Photo by JK Sloan on Unsplash
