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Article

11 Mar 2022

Author:
Judd Legum, Rebecca Crosby & Tesnim Zekeria, Popular Information

Halliburton, Hyatt, Burger King, Citi, Philip Morris, Pirelli, Bridgestone, Marriott, Hilton & Baker Hughes among companies still doing business in Russia

Moscow International Business Center, Sparrow Hills, Moscow

These companies are still doing business in Russia, 10 March 2022

Since Russia invaded Ukraine last month, there has been a mass exodus of companies from Russia. The pace of these withdrawals from Russia has intensified as the Russian military adopted increasingly brutal tactics, including targeting Ukrainian civilians. Hundreds of companies — from Adidas to Shell to McDonald's — have severed or suspended their economic activities in Russia.

There are two main rationales for companies to cut ties with Russia. Some companies were partnering with state-owned enterprises and, therefore, helping fund Russia's assault on Ukraine...

In other cases, companies are suspending operations to create political pressure to end the war...

But a number of prominent companies have decided, at least for now, to continue business as usual in Russia... 

[refers to Halliburton, Hyatt, Burger King, Citi, Philip Morris, Pirelli, Bridgestone, Marriott, Hilton & Baker Hughes]

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