Update: Sanctions for Russia from the business world

Alisa Adamska

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During the last three weeks following Russia’s military invasion on Ukraine’s territories, Russia has become the most sanctioned country in the world. More than 250 companies have already left or announced their exit from Russia’s market. Since February 22nd, Russia has been the target of 2,778 new sanctions, bringing the total to over 5,530. The top sanctioners are Switzerland (568), the EU (518), Canada (454), Australia (413), and the US (243).

Activision Blizzard Inc. –  sales halt

Adobe – sales halt

AMBA ( Association of MBAs) – withdrawal of accreditation of all Russian universities

Association of European Energy Exchanges (Europex) – excluded the St. Petersburg International Commodity Exchange (SPIMEX) from its membership

Association to Advance Collegiate Schools of Business (AACSB) – withdrawal of accreditation of all Russian universities

ASUS – market exit

BGA (Business Graduates Association) – withdrawal of accreditation of all Russian universities

Binance – will not conduct transactions with Mastercard and VISA cards issued in the Russian Federation

Bloomberg – suspended work in Russia

Booking.com – stopped functioning on the territories

Braun GmbH – market exit

Calvin Klein – sales halt

Depositphotos – market exit

EA Inc. – sales halt

EFMD (European Foundation for Management Development) – withdrawal of accreditation of all Russian universities

Goldman Sachs Group Inc. – ceases its activities in Russia

GSC Game World – sales halt of S.T.A.L.K.E.R. 2

Imperial Brands (Winston, Davidoff and West) – stops sales and production in Russia

Intel – suspends all deliveries to Russia and Belarus

KFC – closing of all establishments and suspension of work

Levi Strauss & Co. (Levi’s) – temporarily suspends commercial operations

McDonald’s – closing of all establishments and suspension of work

Mars – termination of investments

Mastercard – completely suspended operations in Russia

Microsoft – suspended all new sales of products and services

Mondelēz International – termination of investments

Nestle(Nesquik, Nescafe, KitKat, Gerber) – termination of investments

Netflix – stopped functioning on the territories

OBI – market exit

Pandora – sales halt in Russia and Belarus

PepsiCo – stops advertising and sales of drinks in Russia

Philip Morris (Parliament, Marlboro, Chesterfield, L&M, Next, Bond, IQOS) – termination of investments

Procter & Gamble (P&G) – market exit

Rolex – stops exporting its premium watches to Russia

Shell – renunciation of Russian oil and gas

Sony – suspends all PlayStation sales in Russia (PlayStation store also not accessible)

S&P Dow Jones – announced the removal of Russian stocks from its indices, and depriving Russia of the status of an emerging market.

Starbucks – closing of all establishments and suspension of work

Tommy Hilfiger – sales halt

Toyota – stopped import

Ubisoft Entertainment SA (developer of Assassin’s Creed and Far Cry) – suspends its physical and digital sales

Unilever (brands Dove, Axe, Rexona, Pure Line, Domestos, Cif and others) – will suspend the export of products to the Russian Federation

Universal Music – suspends all business operations in Russia and closes its offices

Upwork – stopped functioning on the territories

Visa – completely suspended operations in Russia

VMware – market exit

It is estimated that more than 200,0000 Russian citizens are going to or already lost their workplaces because of these sanctions. Also, Russia was expelled from the Council of Europe and The United States plans to impose a complete embargo on trade with Russia.

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