The invasion of Ukraine has affected companies and corporations all over the world. Russian citizens’ lives have been turned upside down with their businesses shutting down and losing access to everyday commodities . Companies are losing money in order to support Ukraine and condemn Russia’s actions. Various large companies have put sanctions and bans on their Russian stores and trade.
Disney is pausing all of their business in Russia, which includes all their subsidiaries like Marvel and Pixar, and is halting all showings of their movies. They are no longer selling any of their merchandise and are shutting down their distribution channels across the country.
Starbucks temporarily shut down all of their 130 stores in Russia until the conflict is over. They are planning on using their royalties that they have gained from Russian stores to donate to the Ukrainian relief effort. They have also stated that they are providing compensation to the 2,000 people that will lose their jobs in Russia.
McDonald’s is planning on temporarily shutting down all their businesses in Russia and will stop all operations in the Russian market. McDonald’s will be closing down a total of 847 stores across the country. CEO Chris Kempczinski stated that McDonald’s should not ignore the suffering in Ukraine.
“We have a commitment to our global community and must remain steadfast in our values,” said Kempczinski. “Our commitment to our values means that we can no longer keep the arches shining there.”
Coca-Cola and Pepsi-Co will also be suspending all forms of business in Russia. Coca-Cola stated that their hearts are with the people “who are enduring unconscionable effects from the tragic events in Ukraine.” They said they will continue to monitor and assess the situation as circumstances evolve. They initially received backlash on social media for not immediately pulling out of Russia along with Pepsi-Co.
ExxonMobil cut off ties with Russia by ceasing their developments and investments there. They are halting the sale of all lubricant and chemical products in Russia. They also stated that they will leave their Sakhalin-1 venture, which was a large producer of Sokol crude oil that would provide oil to countries like Japan, South Korea, Australia, and the United States. Exxon stated that they would be losing about 4 billion dollars from leaving the project.
