Numerous companies halting business in Russia - Financespiders

Numerous companies halting business in Russia - Financespiders

Some of the world’s largest companies have decided Russia is no longer a place they want to do business, at least for now. Apple has paused all product sales, Disney has halted all movie releases and Harley-Davidson has stopped sending bikes to Russia — all in response to the country’s invasion of Ukraine.

How long each pause lasts remains to be seen, Disney said future business decisions in Russia will be “based on the evolving situation.” Other moves, such as British Petroleum’s decision to exit its nearly 20% stake in Rosneft, a Russian state-controlled oil and gas company, will end business ties altogether. Here are some of the major companies that have announced changes to their business operations in Russia.


Delta Air Lines – Delta Air Lines has suspended its codesharing partnership with Russian national airline Aeroflot. The partnership allowed customers to book seats on one another’s flights. Delta has also halted flights over Russian airspace, Reuters reported.

Daimler Truck – One of the world’s largest commercial vehicle manufacturers said it will freeze all business activities in Russia, according to Reuters. That includes halting a joint partnership with Kamaz, a Russian truck maker.

Ford Motor Company – On Tuesday, the American automaker announced it is suspending operations in Russia, effective immediately. General Motors – GM has suspended all vehicle exports to Russia until further notice, Reuters reports.

Harley-Davidson – The Milwaukee-based motorcycle manufacturer has suspended its business in Russia, including all shipments of bikes to the country, a company spokesperson confirmed Tuesday.

Jaguar Land Rover – The British car manufacturer said it has paused car deliveries to Russia due to “trading challenges,” the BBC reports. Volvo – The Swedish car manufacturer said it will suspend car shipments to the Russian market until further notice, Reuters reports.

The decision, announced Monday, made Volvo the first international carmaker to suspend shipments in response to the Russian invasion of Ukraine.


British Petroleum – BP is exiting its share in Rosneft, a Russian state-controlled oil and gas company, the company announced Sunday. BP has held a 19.75% stake in Rosneft since 2013. That stake is currently valued at $14 billion.

Equinor – The Norwegian state-owned energy company announced it will stop new investments in Russia and start the process of exiting its current joint ventures in the country. The company said it had $1.2 billion in “non-current assets” in Russia at the end of 2021.

Shell – On Monday, the oil company announced it would end all joint ventures with Gazprom, a Russian majority state-owned energy company. Shell also intends to end its involvement in the Nord Stream 2 pipeline project.

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Sony Pictures – On Monday, the company said it would pause the release of its films in Russia. Walt Disney Co. – Disney is pausing the release of theatrical films in Russia, the company said in a statement.

The studio had previously planned to open the Pixar film “Turning Red” in Russia on March 10. Warner Bros. – Warner Bros. announced it is halting the release of “The Batman” in Russia. The move comes just days before the film was set to open in theaters there.

Food & Drink

Kroger – National grocery chain Kroger has pulled Russian-produced vodka from its shelves in support of Ukraine. The vodka was removed from shelves over the weekend, Kroger said Tuesday. The chain has nearly 2,800 stores in 35 states.

Total Wine & More – The national chain of liquor stores removed all Russian-made products from its shelves, the company announced Monday.

Freight and logistics

FedEx – “In light of current circumstances, we will temporarily suspend service in and out of Ukraine until further notice,” Memphis-headquartered FedEx said in a statement. Inbound service to Russia has also been suspended, the company said.

UPS – Both inbound and outbound services to Ukraine have been halted as well as deliveries to Russian destinations.


Apple – Apple has paused all product sales in Russia, the company announced Tuesday. Apple Pay and other services have also been limited. The company also pulled RT News and Sputnik News, Russian state-controlled media outlets, from the App Store outside of Russia.

Google – On Tuesday, Google announced it is blocking YouTube channels connected to Russian state-controlled media outlets RT and Sputnik across Europe, effective immediately.

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