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Here are all the major US and European companies pulling out of Russia following the invasion of Ukraine

By Maria H. Gray
March 2, 2022 4 Min Read
Comments Off on Here are all the major US and European companies pulling out of Russia following the invasion of Ukraine

Russian President Vladimir Putin

Russian President Vladimir Putin ordered troops into eastern Ukraine on Monday.Alexei Nikolsky/Associated Press

  • Major companies are ending decades of business with Russia following Putin’s invasion of Ukraine.

  • The latest brands exiting the country include Shell, BP, Apple, and General Motors.

  • Here are all the Western companies that have divested from Russia or halted sales to the country.

Companies from around the world are pulling out of Russia as the country plunges into economic free fall following its invasion of Ukraine.

Big Oil companies BP and Shell both dumped their 20% stakes in Rosneft, Russia’s state-backed energy giant, in protest of the military action against Ukraine. On Tuesday, Apple announced it would halt all product sales in Russia and block state media outlets RT News and Sputnik from the App Store.

Here are all the major US and European companies that have severed business ties with Russia so far:

1. ExxonMobil

ExxonMobil logo displayed on a phone screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on January 22, 2022.

ExxonMobil logo displayed on a phone screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on January 22, 2022.Jakub Porzycki/NurPhoto via Getty Images

In a statement on Tuesday, ExxonMobil said it would begin the process to discontinue operations and develop steps to exit the Sakhalin-1 venture, a project it operates on behalf of an international consortium of Japanese, Indian, and Russian companies.

Per the Sakhalin-1 website, it is one of the largest single international direct investments in Russia.

The company said that given the current situation, it would not invest in new developments in Russia.

“ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people,” ExxonMobile said in the statement.

2. Harley-Davidson

FILE PHOTO: Harley Davidson motorcycles are displayed for sale at a showroom in London, Britain, June 22 2018. REUTERS/Henry Nicholls/File Photo

Europe is Harley-Davidson’s second-largest market for motorcycle sales after the US.Thomson Reuters

Source: Reuters

3. General Motors

The General Motors world headquarters

GM is pulling from Russia “due to a number of external factors, including supply chain issues and other matters beyond the company’s control,” a spokesperson said.Paul Hennessy/SOPA Images/LightRocket via Getty Images

Source: Bloomberg

4. Truck manufacturers Volvo and Daimler Truck Holding

Semi truck dealership

We are deeply shocked by the military violence in Ukraine and very concerned about the threats to peace and stability in Europe,” Daimler Truck tweeted on Monday. “We have decided to suspend our business activities in Russia with immediate effect until further notice.”Getty

5. Shell

A worker at a Shell gas station in Leningradskoye Highway, Moscow, Russia.

A Shell gas station in Leningradskoye Highway, Moscow, Russia.Valery Sharifulin/TASS/Getty Images

6. BP

A BP gas station in Saint-Petersburg, Russia in January 2020.

A BP gas station in Saint-Petersburg, Russia in January 2020.Sergei Mikhailichenko/SOPA Images/LightRocket via Getty Images

7. Apple

TikTok (rightmost icon in the second row) has said that it would ban Russia-backed news outlets such as RT (icon in the first row, second from left) from its platform in the EU. In this picture, the screen of a smartphone shows the logos of the apps VKontakte, Twitter, RT News, Facebook, Instagram, Telegram and TikTok

Smartphone with the apps VKontakte, Twitter, RT News, Facebook, Instagram, Telegram and TikTok.Fernando Gutierrez-Juarez/picture alliance via Getty Images

8. Norway’s energy group Equinor

FILE PHOTO: A logo of Equinor, formerly known as Statoil, is seen at the company's headquarters in Fornebu, Norway May 21, 2018. REUTERS/Nerijus Adomaitis

Equinor is divesting from its joint ventures in Russia. It had $1.2 billion in non-current assets in Russia and also expects impairments from the exit.Reuters

9. Norges Bank Investment Management, the world’s largest sovereign wealth fund in Norway

Norway's Prime Minister Jonas Gahr Store

Norwegian Prime Minister Jonas Gahr Støre said the country’s massive sovereign wealth fund would exit its Russian investments.Kay Nietfeld/Getty Images

Source: Insider

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