These Companies Have Left Russia: The List Across Tech, Entertainment, Finance

Tech companies across the globe are pulling out of Russia.

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This story is part of War in Ukraine, CNET’s coverage of events there and of the wider effects on the world.

As the Russia’s war on Ukraine continues, a growing number of companies have said they are stopping sales of products and services in Russia. This will make items, including video games, iPhones and the PS5, harder to get in Russia. 

Apple and Microsoft both said they’ll stop selling products in Russia. Game maker EA said it will stop the sale of games and other digital items while the conflict continues. Online services, such as Airbnb, are suspending operations in Russia.

Companies have also responded in other ways, including cracking down on misinformation and reducing the online presence of Russian state-owned media outlets like RT News and Sputnik News. Google and Twitter have suspended advertising in Russia. 

Russia invaded Ukraine on Feb. 24 after months of growing tension, marked by a buildup of Russian forces along Ukraine’s borders. The US, the EU and the UK have all imposed economic sanctions on Russia, including ones aimed directly at Russian President Vladimir Putin.

Ukraine, which was part of the Soviet Union for much of the 20th century, declared its independence in 1991. Since then, the country has been establishing closer ties with Western Europe and the US.

Here’s a look at tech, entertainment and finance companies that have stopped sales or other services in Russia:

Adobe: The maker of Photoshop and other software stopped all new sales and services in Russia, including its software for creative pros and its website analytics tools, citing “our civic and moral responsibility to support democracy and humanity” and government sanctions. In addition, the company cut off access to its cloud

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KFC dad or mum Yum pausing advancement in Russia, a critical market place

A Kentucky Fried Hen (KFC) restaurant is pictured in Tokyo, Japan, December 14, 2021. REUTERS/Kim Kyung-Hoon

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NEW YORK, March 8 (Reuters) – Yum Brand names Inc (YUM.N), mother or father organization of fried rooster chain KFC, reported it was pausing investment in Russia, a essential current market that aided the manufacturer obtain record improvement past yr.

Yum also reported it was suspending functions of its 70 KFC organization-owned restaurants in the state and finalizing an arrangement to suspend all Pizza Hut cafe operations in Russia, in partnership with its grasp franchisee.

Yum, which has at the very least 1,000 KFC and 50 Pizza Hut spots in Russia that are nearly all impartial franchisees, explained in a put up on its internet site dated Monday that it experienced “suspended all financial commitment and restaurant progress in Russia when we go on to assess supplemental choices.”

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The eating places are owned and operated independently via franchise agreements, this means Yum does not have as much manage as if it ran them alone but also has fewer publicity to monetary and operational pitfalls.

Final yr was a record yr of enhancement for KFC, led by new dining establishments opening in China, India and Russia, executives said for the duration of an earnings simply call on Feb. 9.

All round, KFC global opened additional than 2,400 gross units in 2021. In Russia, the organization was opening about 100 new places to eat yearly and experienced envisioned to keep on “a equivalent expansion approach heading forward.”

Numerous firms have begun to pull their enterprise out of Russia amid sanctions and outrage over the invasion of Ukraine. Phone calls for a lot more businesses

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Russia enables patent theft from any one in ‘unfriendly’ countries

The outcome of shedding patent protections will differ by enterprise, experts say, dependent on no matter whether they have a valuable patent in Russia. The U.S. governing administration has prolonged warned of mental residence rights violations in the region very last 12 months Russia was between nine nations on a “priority view list” for alleged failures to guard intellectual property. Now Russian entities could not be sued for damages if they use selected patents with out permission.

The patent decree and any further more lifting of mental home protections could affect Western investment in Russia effectively past any de-escalation of the war in Ukraine, stated Josh Gerben, an mental residence lawyer in Washington. Companies that previously saw risks in Russian organization would have far more motive to be concerned.

“It’s just a further instance of how [Putin] has eternally adjusted the romantic relationship that Russia will have with the planet,” Gerben explained.

Russia’s decree eliminates protections for patent holders who are registered in hostile countries, do small business in them or hold their nationality.

The Kremlin has not issued any decree lifting protections on logos. But Russia’s Ministry of Financial Enhancement claimed past 7 days that authorities are thinking about “removing constraints on the use of mental home contained in particular products whose provide to Russia is restricted,” according to Russian state news outlet Tass, and that opportunity measures could affect innovations, laptop programs and emblems.

The ministry stated the actions would “mitigate the influence on the sector of source chain breaks, as perfectly as shortages of goods and providers that have arisen thanks to the new sanctions of western nations,” Tass mentioned.

Gerben reported a similar decree on logos would pave the way for Russian corporations to exploit American brand

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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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Can Russia cope with out Taiwan’s semiconductors? Investment Watch

On the to start with working day of Russia’s invasion of Ukraine, the share rate of the world’s greatest chipmaker, Taiwan Semiconductor Producing Corporation (TSMC), dropped, despite the world-wide semiconductor index (recognised as the Sox) staying up 3.5%. This despatched a obvious concept that investors are worried about relations amongst China and Taiwan in the wake of Russia’s invasion.

Just a day after the invasion of Ukraine began, Taiwan declared it was signing up for worldwide sanctions from Russia. To comply with this order, TSMC have to halt the export of semiconductors to Russia. Taiwan retains a well known placement in the international creation of each state-of-the-art and lagging-edge chips, in accordance to Ajit Manocha, CEO of Silicon Valley-dependent business affiliation SEMI. “Russia creates an insignificant selection of semiconductors and is closely reliant on imports,” he provides.

Russia’s reliance on Taiwan for semiconductors

Russia is wholly dependent on TSMC for the substantial-stop semiconductors required for the manufacture of anything at all from laptops and smartphones to equipment for the country’s army and safety services.

TSMC instructed Financial investment Keep an eye on: “TSMC complies with all applicable rules and laws and is totally committed to complying with the new export handle policies introduced.” The business declined to remark additional.

TSMC’s importance for the international semiconductor field cannot be overstated. The enterprise is the world’s greatest contract chip maker and Asia’s most useful mentioned enterprise, at $600bn.

Almost all of TSMC’s amenities are located in Taiwan. Adhering to the international semiconductor shortages seen through the Covid-19 disaster, the firm introduced plans for additional than $44bn of capital financial investment in 2022. This

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