From the first days of the full-scale russian war against Ukraine, a team of experts from Yale University has been monitoring companies that have suspended their operations in russia or are still doing business as usual.
According to the list of companies, as of the beginning of May, more than 1,000 international companies have closed their operations in one way or another in the aggressor country. Some of them announced that they were only abandoning the planned #investments (144 companies), others were reducing (125) or temporarily suspending their activities (412), and some of them completely closed operations in russia (320).
📌 Most companies come from the U.S. (350 companies), Great Britain (84), Germany (80), France (47), Finland (43), Japan (42), Poland (37), Switzerland (37), Sweden 29) and Denmark (25). Regarding sectoral distribution, most companies operate in the field of #consumer #goods, #industry, #IT and #financial services.
🔻 In recent months, the world community has witnessed a swift response from the private sector to russia’s war in Ukraine. The same situation was observed in the second half of the 1980s, when about 200 American companies left South Africa to protest against its apartheid system. Corporate exit has helped increase economic pressure, end apartheid, and have been a great manifestation of the power companies have.
📌 It is too early to say whether the moves of companies that have curtailed in russia will help force the aggressor to end the war. But along with sanctions from Ukraine’s allies, they have already shaken the aggressor country’s economy.