These companies continue to do business in Russia

The list of companies continuing to operate in Russia is shrinking by the minute, but dozens of corporations including multinational manufacturers and hotel chains are still doing business in the country despite intense public pressure to withdraw over its invasion of Ukraine.

McDonald’s was among the big-name companies to announce this week that it would temporarily close its 850 restaurants in Russia. Cola-Cola and PepsiCo quickly followed suit, as did restaurant chains Burger King, Papa John’s, Little Caesars and others. Deutsche Bank on March 11 announced that it was “winding down” its business in Russia. The German financial giant had drawn fire for initially saying that it intended to continue some of its activities in the country.  

Caterpillar cited “supply chain disruptions and sanctions” for its March 9 decision to suspend operations at its Russian manufacturing facilities. “We recognize this is a time of incredible uncertainty for our valued employees, and we will continue to look for ways to support them,” the maker of construction and mining equipment stated. 

The Peoria, Illinois-based company opened its first office in Russia in 1973, and has a parts distribution facility in Moscow and a manufacturing plant in Tosno, near Saint Petersburg. Russia accounts for 8% of Caterpillar’s annual revenue, or approximately $4 billion, according to Yale University management professor Jeffrey Sonnenfeld.  

More than 30 large companies “remain in Russia with significant exposure,” according to a running tally updated daily by Sonnenfeld and his team.  

The goal of calling out the companies is to pressure them to work in concert with the U.S. government and its allies that have imposed economic sanctions against Russia, Sonnenfeld told CBS News. Government sanctions “rarely succeed completely alone — they need fairly universal support of the business community to truly paralyze an economy as

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Right here are the providers continue to executing business in Russia undeterred

A company exodus from Russia in response to its army invasion of Ukraine has observed far more than 300 U.S. and multinational businesses sever company ties with the country — and the checklist is expanding by the moment.

But even as quite a few flee, a range of significant-title companies have remained mum.

Between them are U.S. consumer favorites like Dunkin’ Donuts, Subway, and Mondelez (MDLZ). Lodge big Marriott (MAR) can also be observed on the docket of corporations that have not suspended or reduced their publicity to Russia’s current market.

Considering that President Vladimir Putin’s war on Ukraine commenced on Feb. 24 — which has so much led to 2 million refugees and extra than 1,000 civilian casualties recorded by the United Nations — all over 330 companies have withdrawn from Russia in protest of the Kremlin as of March 10, in accordance to a list compiled by Yale professor Jeffrey Sonnenfeld and his research workforce. However, 39 go on to function in the place even with mounting stress to choose motion.

Dunkin’ Donuts operates 150 destinations in Russia, in accordance to the study by Sonnenfeld and his colleagues, whilst Subway has 446 franchise destinations in the place. American multinational food items and beverage maker Mondelez — the mother or father of makes like Oreo, Ritz, and Chips Ahoy! — has an even greater footprint in the country that it has nevertheless to give up. Mondelez generates about 3.5% of its profits from Russia, or about $1 billion.

Walnut Creek, California, United States – October 09, 2018: Facade with emblem at night time at Marriott hotel in downtown Walnut Creek, California, October 9, 2018

In the meantime, Marriott Global racks in 4.3% of its profits, or about $440 million, from Russian operations, for every Sonnenfeld’s details.

The listing stays

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