These Are All The Companies That Have Cut Ties With Russia

Nation And State ^ | 3-4-2022

[blam]

An ever-expanding list of public companies, including Apple, Exxon, GM, and Nike, are proudly announcing they are cutting ties to Russia as its invasion of Ukraine brings condemnation and sanctions.

But while all this sounds very ‘politically-correct’ and ‘shared-sacrifice’-y, Bloomberg reports that if every U.S. tech firm followed Apple and disconnected from Russia, it would reduce revenue by only 1%-2% in a worst-case scenario, according to Wedbush analyst Dan Ives. So far, the lost business looks like it won’t have a major impact on profits (or stock prices), especially with China being by far Russia’s largest trading partner.

Infographic: Russia's Most Important Import Partners | Statista

In fact, for some, like Exxon, cutting ties with Russia can spark a ‘virtue-signaling’ ESG boost with minimal impact to the company’s actual business, and as Bloomberg’s Tim Culpan remarks in a very frank opinion piece, consumer brands halting sales in Russia “smells of opportunism” to some, with transportation constrained, limited access to international payments systems, and a sinking ruble:

“While that sounds like an appropriate response to Moscow’s brutality, it also smells of opportunism…

…it’s hard not to wonder whether companies were taking a principled stand only once it was no longer feasible to do business in the country”

Of course soaring oil and other commodities cost will strike at profits as expenses rise and consumers have less to spend. But, as Axios details, in the seven days since Putin’s invasion began, the following companies have unleashed their anti-Russia PR campaigns:

• Boeing suspended major operations in Moscow, as well as maintenance and technical support for Russian airlines.
• Airbus is halting supply of parts and services to Russian airlines.
• Shell will sever ties with Russian gas giant Gazprom and end its roughly $1 billion financing of the Nord Stream 2 gas pipeline.
• BP is exiting its nearly 20% stake in Russian oil giant Rosneft, and faces a potential financial hit of as much as $25 billion.
• Exxon Mobil says it will exit Russia oil and gas operations valued at more than $4 billion and cease new investment.
• GM, which sells only about 3,000 cars a year in Russia, says it will suspend exporting vehicles.
• Ford suspended operations.
• BMW stopped shipments and will stop production in Russia.
• Daimler Truck Holdings said it would no longer send supply components to its Russian joint-venture partner.
• Volvo Cars, owned by Chinese conglomerate Zhejiang Geely, halted sales and shipments.
• Renault ceased operations and production at two assembly plants because it can’t get parts.
• VW paused delivery of Audis already in Russia so it can adjust car prices to reflect the decline in value of the ruble.
• Harley-Davidson suspended shipments to Russia.
• Adidas suspended its partnership with the Russian Football Union.
• Nike ceased online sales because it can’t guarantee delivery.
• FedEx and UPS suspended shipments.
• Yoox Net-A-Porter Group and Farfetch, luxury e-commerce platforms, are suspending deliveries in Russia.
• Apple has paused product sales and limited services (including Apple Pay), on top of ceasing exports to Russia and restricting features in Apple Maps in Ukraine to safeguard civilian safety.
• Dell stopped selling products.
• Ericsson is suspending deliveries to Russia.
• Walt Disney is pausing film debuts in Russia. Warner Bros., Sony, Paramount and Universal say they won’t release films in the country.

So with companies falling over themselves to signal their anti-Putin virtue, we give Bloomberg’s Tim Culpan the last word:

“So if we want to measure business executives’ true character, watch what they do in authoritarian countries during times of peace and abundant revenue. We need not wait for the violence to start and the money flow to stop.”

Harsh, but fair, in the current ‘hold your nose’ over Beijing’s human rights abuses environment… and will all the same companies pull out of China when/if it invades Taiwan?

[Travis McGee]

Ever feel like we're being played?

[TexasGunLover]

FedEx and UPS suspended shipments.

This is a safety issue, not a political one for these companies.

[SpeedyInTexas]

Good for them!

Wreck the Russian economy and drive down the Russian birthrate. Fewer Russians on this planet, the safer we all will be.

[donozark]

I read the new movie Batman will not open in Russia. That will leave a mark.../

[MeneMeneTekelUpharsin]

This is all going to cause more conflict. Stop and think what YOU would do if someone destroyed almost all of your financial assets without taking your weapons. It’s pure logic.

[Sirius Lee]

I hope they all put little Ukrainian Flag filters on their Facebook pages, like they did with the back squares for BLM, for that Xtra virtue signally goodness. Lemmings gonna lemming.

[The Louiswu]

So after WW1, the world took a big financial dump on Germany for starting the Great War, which caused years of financial and physical hardship for the once proud nation, sanctions which assisted in the rise of Hitler and the National Socialist Party and WW2. Pushing people into a corner can have unintended consequences which can lead to greater and more long lasting harm.

[FreedomPoster]

>>Harsh, but fair, in the current ‘hold your nose’ over Beijing’s human rights abuses environment… and will all the same companies pull out of China when/if it invades Taiwan?

They should have already done so over the Chinese treatment of Mongolia, their Uyghurs, and the Falun Gong.

[Varsity Flight]

Right into it. Motivating the Hooks in the Jaws toward the south.

Armageddon

[bert]

——like Exxon, cutting ties with Russia can spark a ‘virtue-signaling’ ESG boost with minimal impact -——

Exxon has experienced the problem previously. One wonders if nationalization of decades old holdings and operations in Venezuela was actually greater shock than closing operations in Russia

[who knows what evil?]

Ever feel like we're being played?

Yep...every damned day.

[Lisbon1940]

Apple Maps was really good in the first few days for following traffic out of the cities to the borders. Now you can’t see any of that inside Ukraine.

[NautiNurse]

Thanks for the list. Eight companies are vehicle manufacturers. With the shortage of new vehicles worldwide, this action is simple virtue signaling without risk.

[dljordan]

I love it. Putin is a Young Global Leaders graduate.

[Travis McGee]

“Putin is a Young Global Leaders graduate.”

So said Klaus Schwab. Have you seen any other evidence?

Putin is 70 years old. He’s ruled Russia basically since 1999, with a constitutional interruption where he actually ruled as veep.

So when did he attend Klaus Schwab’s mythical Young Global Leaders Academy?

Do you believe everything Klaus Schwab says?

If Putin attended some W.E.F. / Davos conference at some point, does that qualify him as a “Young Global Leaders graduate?”

[PIF]

Wreck the Russian economy and drive down the Russian birthrate. Fewer Russians on this planet, the safer we all will be.

—
The fewer white Russians in Russia, the more fundamentalist muslims - your pick.

[sport]

I know we are. The American Public swallowed this one just like they swallowed the “Covid 19 pandemic” hook, line ,and sinker. Including staying 6 feet apart. As if the covid virus molecules could not travel 6and 1/2 feet or 8 feet. And wearing a mask everywhere including to bed and the table to eat. A mask that had plainly printed on its package in the English Language: “Not for Medical purposes.” And even better, they ratted out their neighbors that had the sense not to do these things to the Police. And some were even killed for not wearing the mask. The American Public is being played like a tuba by this one.

[blam]

"This is all going to cause more conflict. Stop and think what YOU would do if someone destroyed almost all of your financial assets without taking your weapons."

That's why I've been telling everyone to have their Potassium Iodide ready.

[sport]

That is a game two can play. Russia can cut off the fuel sales to the United States. And cut off the sales of chrome ore to the United States. Neither of these will hurt the U.S. all that bad. Winter is over, for the most part. We do not produce that much steel. What they can do, and may do is form an allegiance whit Red China and either cut off exports to the United States of run up the prices so high that the Unites States can’t pay them. European markets, including Canada and other Countries would pick up of about 80% of the business they lost. And last but not least if they are not already doing it. Refuse to accept “Petro dollars” for payment of the fuel they sell.
/Pure Bullshit, right?