Over 750 Companies Have Curtailed Operations in Russia

Yale School Of Management

Over 750 Companies Have Curtailed Operations in Russia—But Some Remain

April 15, 2022

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Since the invasion of Ukraine began, we have been tracking the responses of over 1,000 companies. Over 750 companies have publicly announced they are voluntarily curtailing operations in Russia to some degree beyond the bare minimum legally required by international sanctions — but some companies have continued to operate in Russia undeterred. 

Originally a simple “withdraw” vs. “remain” list, our list of companies now consists of five categories—graded on a school-style letter grade scale of A-F for the completeness of withdrawal. 

The list below is updated continuously by Jeffrey Sonnenfeld and his team of experts, research fellows, and students at the Yale Chief Executive Leadership Institute to reflect new announcements from companies in as close to real time as possible. 

Our list has already garnered extensive coverage for its role in helping catalyze the mass corporate exodus from Russia. 

When this list was first published the week of February 28, only several dozen companies had announced their departure.

Hundreds of companies have withdrawn in the days since, and we are humbled that our list helped galvanize millions around the world to raise awareness and take action. 

Although we are pleased that our list has been widely circulated across company boardrooms, government officials, and media outlets as the most authoritative and comprehensive record of this powerful, historic movement, we are most inspired by the thousands of messages we have received from readers across the globe, especially those from Ukraine, and we continue to welcome your tips – preferably with documentation – insights, and feedback, at jeffrey.sonnenfeld.celi@yale.edu

For a sortable, detailed version of the list below, please visit our enhanced database where you can filter companies by letter grade, country, sector, and much more. This database replaces the detailed Excel spreadsheet we previously published, which is now archived as of April 7 and no longer updated. 

Click here to read the new commentary from Jeffrey Sonnenfeld and Steven Tian in The New York Times explaining why our list matters, now more than ever. 

If you want to get in touch with the “F” companies found here, you may locate contact information on this non-Yale affiliated website: www.emailcontactukraine.com. We do not endorse nor certify the accuracy of this list of addresses, but in response to frequent requests, we are aware of this external non-Yale resource.

Yale CELI List of Companies

Updated By: Jeffrey Sonnenfeld and Yale Research Team: Wiktor Babinski, Ricardo Barcelo, Yash Bhansali, Forrest Michael Bomann, Michal Boron, Katie Burke, Adriana Coleska, Samuel Choi, Drew D’Alelio, Hunter Harmon, Georgia Hirsty, Mateusz Kasprowicz, Cate Littlefield, Rémi Moët-Buonaparte, Christophe Navarre, Marina Negroponte, Camillo Padulli, Jeremy Perkins, Magdalena Rego, Franek Sokolowski, Steven Tian, Ryan Vakil, Michal Wyrebkowski, and Steven Zaslavsky.

Last Updated: April 15, 2022

How We Do It: We have a team of experts with backgrounds in financial analysis, economics, accounting, strategy, governance, geopolitics, and Eurasian affairs with collective fluency in ten languages including Russian, Ukrainian, German, French, Italian, Spanish, Chinese, Hindi, Polish and English, compiling this unique dataset using both public sources such as government regulatory filings, tax documents, company statements, financial analyst reports, Bloomberg, FactSet, MSCI, S&P Capital IQ, Thomson Reuters and business media from 166 countries; as well as non-public sources, including a global wiki-style network of 150+ company insiders, whistleblowers and executive contacts.        All Countries       Afghanistan       Albania       Algeria       American Samoa       Andorra       Angola       Anguilla       Antigua & Barbuda       Argentina       Armenia       Aruba       Australia       Austria       Azerbaijan       Bahamas       Bahrain       Bangladesh       Barbados       Belarus       Belgium       Belize       Benin       Bermuda       Bhutan       Bolivia       Bonaire       Bosnia & Herzegovina       Botswana       Brazil       British Indian Ocean Ter       Brunei       Bulgaria       Burkina Faso       Burundi       Cambodia       Cameroon       Canada       Canary Islands       Cape Verde       Cayman Islands       Central African Republic       Chad       Channel Islands       Chile       China       Christmas Island       Cocos Island       Colombia       Comoros       Congo       Cook Islands       Costa Rica       Cote DIvoire       Croatia       Cuba       Curacao       Cyprus       Czech Republic       Denmark       Djibouti       Dominica       Dominican Republic       East Timor       Ecuador       Egypt       El Salvador       Equatorial Guinea       Eritrea       Estonia       Ethiopia       Falkland Islands       Faroe Islands       Fiji       Finland       France       French Guiana       French Polynesia       French Southern Ter       Gabon       Gambia       Georgia       Germany       Ghana       Gibraltar       Great Britain       Greece       Greenland       Grenada       Guadeloupe       Guam       Guatemala       Guinea       Guyana       Haiti       Hawaii       Honduras       Hong Kong       Hungary       Iceland       Indonesia       India       Iran       Iraq       Ireland       Isle of Man       Israel       Italy       Jamaica       Japan       Jordan       Kazakhstan       Kenya       Kiribati       Korea North       Korea South       Kuwait       Kyrgyzstan       Laos       Latvia       Lebanon       Lesotho       Liberia       Libya       Liechtenstein       Lithuania       Luxembourg       Macau       Macedonia       Madagascar       Malaysia       Malawi       Maldives       Mali       Malta       Marshall Islands       Martinique       Mauritania       Mauritius       Mayotte       Mexico       Midway Islands       Moldova       Monaco       Mongolia       Montserrat       Morocco       Mozambique       Myanmar       Nambia       Nauru       Nepal       Netherland Antilles       Netherlands       Nevis       New Caledonia       New Zealand       Nicaragua       Niger       Nigeria       Niue       Norfolk Island       Norway       Oman       Pakistan       Palau Island       Palestine       Panama       Papua New Guinea       Paraguay       Peru       Philippines       Pitcairn Island       Poland       Portugal       Puerto Rico       Qatar       Republic of Montenegro       Republic of Serbia       Reunion       Romania       Russia       Rwanda       St Barthelemy       St Eustatius       St Helena       St Kitts-Nevis       St Lucia       St Maarten       St Pierre & Miquelon       St Vincent & Grenadines       Saipan       Samoa       Samoa American       San Marino       Sao Tome & Principe       Saudi Arabia       Senegal       Seychelles       Sierra Leone       Singapore       Slovakia       Slovenia       Solomon Islands       Somalia       South Africa       Spain       Sri Lanka       Sudan       Suriname       Swaziland       Sweden       Switzerland       Syria       Tahiti       Taiwan       Tajikistan       Tanzania       Thailand       Togo       Tokelau       Tonga       Trinidad & Tobago       Tunisia       Turkey       Turkmenistan       Turks & Caicos Is       Tuvalu       Uganda       United Kingdom       Ukraine       United Arab Emirates       United States       Uruguay       Uzbekistan       Vanuatu       Vatican City State       Venezuela       Vietnam       Virgin Islands (Brit)       Virgin Islands (USA)       Wake Island       Wallis & Futana Is       Yemen       Zaire       Zambia       Zimbabwe     All Countries

Digging In

Defying Demands for Exit or Reduction of Activities (198 Companies) (Grade: F)

Companies that are just continuing business-as-usual in Russia…

Aalbertsstill operating in RussiaIndustrialsNetherlands
AB InBevstill operating in RussiaConsumer StaplesBelgium
Acerinoxstill operating in RussiaMaterialsSpain
Agranacontinue operating plant in RussiaAustria
Agricultural Bank of ChinaRussian companies open accounts with the bank; decline to commentFinancialsChina
Aimbridge | Interstate Hotelsstill operating in RussiaConsumer DiscretionaryUnited States
Air Serbiastill flying to RussiaIndustrialsSerbia
Alconstill operating in RussiaHealth CareSwitzerland
Alibabastill operating in RussiaConsumer DiscretionaryChina
Align Technologystill operating in RussiaHealth CareUnited States
Alpina Žiridistributors in RussiaConsumer DiscretionarySlovenia
AlumilNot disclosed publiclyIndustrialsGreece
Ametekstill operating in RussiaUnited States
Amgenstill operating in RussiaHealth CareUnited States
Andritzcontinue exports to RussiaAustria
ANT Groupjoint venture with the Russian Sovereign Wealth FundChina
Asusciting conditions for effective standstill in Russian operations without actually suspending operationsInformation TechnologyTaiwan
Auchan-Retailstill operating in RussiaConsumer StaplesFrance
AVLstill operating in RussiaAustria
Bajaj Autobusiness as usualIndia
Bharat Petroleum (BPCL)bought 2 million barrels of Russian Urals for May loadingIndia
Bharti Airtelbusiness as usualIndia
Bonduellestill operating in RussiaConsumer StaplesFrance
Buzzi Unicemcontinue operating plants in RussiaItaly
Calzedoniacontinue sales in RussiaItaly
CANPACKstill operating in RussiaPoland
Carter’s | Oshkoshstill operating in RussiaUnited States
Charoen Pokphand Foodsstill operating in RussiaConsumer StaplesThailand
Check Point Softwareselling cybersecurity products in RussiaInformation TechnologyIsrael
China Communications Construction Companyplanning new infrastructural projectsIndustrialsChina
China Construction BankRussian companies open accounts with the bank; decline to commentFinancialsChina
China Life Insurance Companyoffices in Russia, actively looks for new Russian employeesFinancialsChina
China Mobilebusiness as usualCommunication ServicesChina
China National Petroleum Corporationbusiness as usualEnergyChina
China Railway Construction Corporationcontinues to build Vladivostok highway in March 2022IndustrialsChina
China Railway Engineering Corporationbusiness as usualIndustrialsChina
China State Construction Engineeringcontractor to the Russian stateIndustrialsChina
China State Railway Group Companyincreasing coal shipments from RussiaChina
China United Network Communicationsa subsidiary in Russia: China Unicom (Russia) Operations Limited Liability Company; business as usualCommunication ServicesChina
ChipitaNot disclosed publicly; still operating in RussiaConsumer StaplesGreece
Cloudflarecontinue sales & services in RussiaInformation TechnologyUnited States
Coal Indiaexpecting highest import level in 2 yearsIndia
Cremonini Groupcontinue sales in RussiaItaly
De Ceccocontinue sales and operations in RussiaItaly
Densocontinue operations in RussiaJapan
Didiexplicitly reversed decision to exit RussiaIndustrialsChina
DJIcontinue business in RussiaChina
DMK Groupcontinues sales and plant operations in RussiaGermany
Donaldson Companycontinues sales to RussiaUnited States
Dr Reddys Labsbusiness as usualIndia
Duolstill operating in RussiaConsumer DiscretionarySlovenia
EDFstill operating in RussiaUtilitiesFrance
Eggerstill operating in RussiaIndustrialsAustria
ElvalHalcorNot disclosed publiclyIndustrialsGreece
Emirates Airlinesstill flying to RussiaIndustrialsUnited Arab Emirates
EMS-Chemiestill operating in RussiaIndustrialsSwitzerland
Engiestill operating in RussiaUtilitiesFrance
ESABstill operating in RussiaIndustrialsSweden
Eutelsatprovide satellite TV services to RussiaCommunication ServicesFrance
FAW Groupremains silent on whether they will continue operationsIndustrialsChina
Fleetcorbusiness as usualFinancialsUnited States
Flowservestill operating in RussiaIndustrialsUnited States
Fluidracontinuing sales in RussiaConsumer DiscretionarySpain
FM Globalcontinuing Russian relationshipsFinancialsUnited States
Foracostill operating in RussiaEnergyFrance
Frigoglassstill operating in RussiaConsumer StaplesGreece
GEA Groupcontinues operations in RussiaGermany
Gedeon Richterstill operating in RussiaHealth CareHungary
Geoplinstill purchasing Russian gas from GazpromEnergySlovenia
Geoxcontinuing operations in RussiaItaly
Global Fashion Groupstill operating in RussiaLuxembourg
Globusstill operating in RussiaConsumer StaplesGermany
Gorenjestill operating in RussiaConsumer DiscretionarySlovenia
Groupe Le Duffstill operating in RussiaConsumer DiscretionaryFrance
Groupe Savenciastill operates in RussiaIndustrialsFrance
Grupo Borges | ITLVstill operating in RussiaConsumer StaplesSpain
Grupo Fuertesstill operating in RussiaSpain
Hampidjanstill operating in RussiaIndustrialsIceland
Hengli Groupbusiness as usualEnergyChina
Herendstill operating in RussiaConsumer DiscretionaryHungary
Hindalcobusiness as usualIndia
HiPPcontinue operations and sales in RussiaSwitzerland
Honorbusiness as usualChina
Huaweistill operating in RussiaInformation TechnologyChina
Huntsman Corporationstill operating in RussiaMaterialsUnited States
Ideal Moldestill selling to RussiaMaterialsPortugal
IMCDstill operating in RussiaNetherlands
Industrial Bank (China)offices operating in Moscow, did not answer for Reuters’ calls for commenting on thatFinancialsChina
Intermediastill operating in RussiaInformation TechnologyUnited States
International Paperstill operating in RussiaMaterialsUnited States
IOCsigned new deal to import Russian oilEnergyIndia
Itochucontinues oil & gas exploration partnershipsJapan
Jacques Dessangestill operating in RussiaFrance
JD.combusiness as usual – the Russian store is still fully operationalChina
JDE Peet’sstill operating in RussiaConsumer StaplesNetherlands
Jean-Louis Davidstill operating in RussiaConsumer DiscretionaryFrance
Jidian International Trade Cohas purchased at least 50,000 tonnes of coal from Russia since the war broke out – “We are still in the business when many of our peers are out”China
JSW Steelbusiness as usualIndia
Kaupfélag Skagfirðingastill operating in RussiaConsumer StaplesIceland
KleemannNot disclosed publiclyIndustrialsGreece
Knarr Maritimemembers still operating in RussiaIceland
Koch Industriesstill operating in RussiaIndustrialsUnited States
Kotanyistill exporting to RussiaAustria
Krkastill operating in RussiaHealth CareSlovenia
Kronospanstill operating in RussiaMaterialsAustria
Kweichow Moutaibusiness as usualChina
La Redoutestill operating in RussiaIndustrialsFrance
Laboratorie Servierstill operating in RussiaConsumer DiscretionaryFrance
Lacostestill operating in RussiaConsumer StaplesFrance
LACTALISstill operating in RussiaConsumer StaplesFrance
Larsenbusiness as usualIndia
Legrandstill operating in RussiaConsumer DiscretionaryFrance
Lenovostill operating in RussiaConsumer DiscretionaryHong Kong
Leptos Estatescontinues operations in RussiaCyprus
Leroy Merlinstill operating in RussiaConsumer DiscretionaryFrance
LiebherrNo action taken; still operating in RussiaIndustrialsGermany
Lisecstill operating in RussiaAustria
Luka Kopercontinuing trans shipmentsSlovenia
Mahindra & Mahindrabusiness as usualIndia
Makrochem SAstill operating in RussiaPoland
Maxamstill operating in RussiaMaterialsSpain
Menarini Groupcontinue operating plant and research centerItaly
Metrostill operating in RussiaConsumer StaplesGermany
Mitsuicontinuing operations within sanctions complianceEnergyJapan
Mizuho Financial Groupstill operating in RussiaFinancialsJapan
Mod’s Hairstill operates in RussiaFrance
MOLGroupstill operating in RussiaEnergyHungary
Mondicontinue operations in RussiaUnited Kingdom
MS & AD Insurance Groupcontinue operations in RussiaJapan
MSIstill operating in RussiaInformation TechnologyTaiwan
Nature’s Sunshinestill operating in RussiaConsumer StaplesUnited States
New Yorker Marketing & Media GmbHcontinue to operate and open new storesIndustrialsGermany
NTTcontinues to operate cloud services in RussiaJapan
Oasis Logistics Corp“We are actively exploring opportunities to work with our Russian partners”China
OCSiAlstill running research center and branchInformation TechnologyLuxembourg
Olam Groupstill operating in RussiaConsumer StaplesSingapore
ONGCaggressive selling of Russian Sokoil to other Indian Nationalised Energy corpsEnergyIndia
Oppobusiness as usualChina
Oranostill operating in RussiaEnergyFrance
Owens Corningvaguely pursue options to transfer or sell our Russian facilities but no final decisionUnited States
Paccarstill active in Russia; deny commentsIndustrialsUnited States
Palfingerstill operating in RussiaAustria
Paul Wurthmaintaining commercial activities with RussiaIndustrialsLuxembourg
Pentairstill selling to Russian distributorsUnited States
Phibro Animal Health Corpcontinues sales to RussiaUnited States
Pidilite Indbusiness as usualIndia
Pilkingtonstill operating in RussiaJapan
Plastika KritisNot disclosed publiclyGreece
Poly Real Estatea sister company is Poly Technologies, one of China’s largest arms exporters and has been sanctioned by the United States; in Russian tax registryReal EstateChina
PowerChinacooperating with a Russian bank “Solidarnost” on off-shore projectesChina
ProfilcoNot disclosed publiclyMaterialsGreece
Qatar Airwaysstill flying to RussiaQatar
Rabamaintain commerical ties with Russian KamazIndustrialsHungary
Raiffeisen Bank Internationalstill operating in RussiaFinancialsAustria
Rikostill operating in RussaSlovenia
Riot Gamesstill operating in and selling to RussiaConsumer DiscretionaryUnited States
Russia Fachspedition Dr. Lassmannstill operating in RussiaAustria
S-MechanikiNot disclosed publiclyIndustrialsGreece
SAIC Motorremains operational; plans to increase exportIndustrialsChina
Sanatmetalstill operating in RussiaHealth CareHungary
Sany Heavy Industriesbusiness as usualChina
Sarantisstill operating in RussiaConsumer StaplesGreece
Schoeller Bleckmannstill operating in RussiaAustria
Semiconductor Manufacturing International Corporationdefies US sanctions by continuting to export to RussiaIndustrialsChina
Shanghai Fosun Pharmaceuticalbusiness as usualChina
Signifystill operating in RussiaConsumer DiscretionaryNetherlands
Simba Dickie Groupstill operating in RussiaConsumer DiscretionaryGermany
State Grid Corporation of Chinabusiness as usualUtilitiesChina
Storckcontinue candy sales in RussiaConsumer StaplesGermany
Sun Pharmabusiness as usualIndia
SWISS KRONOstill operating plant in RussiaSwitzerland
Sæplastnot publically disclosedIndustrialsIceland
Tata Consultancy ServicesUniversal KUBE – a subsidiary of TSC for the Russian marketCommunication ServicesIndia
Tata Steelbusiness as usual, however looking for alternatives to Russian coalIndia
Tech Mahindrabusiness as usualIndia
Tencentstill operating in RussiaCommunication ServicesChina
Tennecostill operating in Russia; deny commentsIndustrialsUnited States
TEPCOcontinues purchases of Russian gasUtilitiesJapan
The China Coal Transportation and Distribution Associationbig power plants and about 20 Russian coal companies discussed plans to increase bilateral tradeChina
ThyssenKruppstill operating in RussiaGermany
Titan Companybusiness as usualIndia
Titan Internationalstill operating in RussiaIndustrialsUnited States
Toyota Tsushostill operating in RussiaJapan
Triglav Groupstill operating in RussiaSlovenia
Turkish Airlinesstill flying to RussiaIndustrialsTurkey
UniCreditevaluating potential withdrawal but still operating in RussiaFinancialsItaly
UnionPayRussian banks TURN to UnionPay, after Visa and Mastercard leftChina
Vankebusiness as usualUtilitiesChina
Veoliastill operating in RussiaUtilitiesFrance
Vinci SAstill operating in RussiaIndustrialsFrance
Vivobusiness as usualChina
Wanhua Chemical Groupbusiness as usualChina
Wienerbergerstill operating in RussiaAustria
Xiaomistill operating in RussiaInformation TechnologyChina
Xibao Metallurgy Materials Groupbuilding a refractory material plant in Lipetsk, RussiaChina
Zimmer Biometcontinues sales in RussiaUnited States
ZTEbusiness as usualCommunication ServicesChina
ZwackNot disclosed publiclyConsumer StaplesHungary

Buying Time

Holding Off New Investments/Development (134 Companies) (Grade: D)

Companies postponing future planned investment/development/marketing while continuing substantive business…

Abbott Laboratoriessuspend non-essential business activityHealth CareUnited States
Abbviesuspend aesthetics operations, pause new clinical trialsHealth CareUnited States
Accorsuspend new investments/developmentConsumer DiscretionaryFrance
Accumaluxstill operating plant in Togliatti, RussiaIndustrialsLuxembourg
ADMunspecified scaling down of non-essential operationsConsumer StaplesUnited States
Aegonending new investments where has control over fundFinancialsNetherlands
Air LiquideSome clients no longer supplied, others scaled down; all Russian investments on holdMaterialsFrance
Akrapovičstill operating in RussiaConsumer DiscretionarySlovenia
AmerisourceBergencease new business initiatives but continue existing clinical trials, and distributing health productsHealth CareUnited States
Anecoopdiverting sales away from RussiaConsumer StaplesSpain
Arconicpause new contracts but continue existingMaterialsUnited States
AstraZenecahalt new investments/new clinical trialsHealth CareUnited Kingdom
Baker Hughespaused new investments/developmentEnergyUnited States
Bang & Bonsomersuspend new investments but still operating in RussiaFinland
Bank of Cyprusmaintain loan book; observe banking sanctionsCyprus
Barillaall new investments and advertising activities on holdConsumer StaplesItaly
Barry Callebautsuspend capital investmentConsumer StaplesSwitzerland
BASF SEno new business in Russia & Belarus except certain productsMaterialsGermany
Bayerstopping unspecified non-essential business activityHealth CareGermany
BlaBlaCarStopped new investment but stays in RussiaIndustrialsFrance
Boironsuspend new investments & stop clinical trialsHealth CareFrance
Calfrac Well Servicessuspension of new investments in RussiaEnergyCanada
Camparicontinue sales in Russia but suspend new investmentsItaly
Cargillunspecified scaling down of non-essential operationsConsumer StaplesUnited States
Carmimsuspend some orders in backlogConsumer StaplesPortugal
Colgate-Palmolivecontinue essential health and hygiene productsConsumer StaplesUnited States
Corticeira Amorimcommerical activity suspendedConsumer DiscretionaryPortugal
Credit Suissestop new business in Russia while meaningfully cutting exposureFinancialsSwitzerland
Danonesuspend all investment projects but continue dairy productsConsumer StaplesFrance
Delonghipaused new shipments and investmentsConsumer DiscretionaryItaly
dōTERRAsuspend new investment in RussiaConsumer StaplesUnited States
Dr. Theisssuspend advertisementHealth CareGermany
Eccosuspend new investments still operating in RussiaConsumer DiscretionaryDenmark
Ehrmanncontinue sales in Russia but suspend new investmentsConsumer StaplesGermany
Ekosem Agrar AGrestructuring financesConsumer StaplesGermany
Eli Lillysuspend new investments and clinical trialsHealth CareUnited States
Emerson Electrichalt new investments in RussiaIndustrialsUnited States
ESLban people with ties to Russian governmentUtilitiesGermany
FL Smidthno new businessDenmark
Focus Brands – Cinnabonno new investments and expansion plans on holdIndustrialsUnited States
Fortumno new investments in Russia; continue operating plantsFinland
Gaz-Systemstill imports Russian gas, made efforts to diversifyPoland
GlaxoSmithKlinestopped advertising/new clinical trials in RussiaHealth CareUnited Kingdom
Glencorestop entering into new Russian commodities trading contracts but continue holding substantive Russian equity stakesMaterialsSwitzerland
Greifcanceled future investments in RussiaMaterialsUnited States
GROUPE LIMAGRAIN/JACQUET-BROSSARDcontinues flows to Russian and Ukrainian producers but suspends its project to build a seed factory in RussiaIndustrialsFrance
Groupe Sebsuspend new investments and “sharply” reduce activities in RussiaConsumer DiscretionaryFrance
Grumahalt new investments in RussiaConsumer StaplesMexico
GXO Logisticssuspend new investmentsIndustrialsUnited States
Hellenic Bankmaintain rep offices in Russia; observe all banking sactionsCyprus
Hellenic Petroleumseeks new oil supplier to replace Russian oilEnergyGreece
Henkelstop ads in state-owned media and freeze future investment plans in RussiaConsumer StaplesGermany
HERZno new business in RussiaAustria
Hiltonsuspend new investments/close corporate officeConsumer DiscretionaryUnited States
Hinessuspend new investments in RussiaIndustrialsUnited States
Hochlandsuspend investments but continues sales and plant operations in RussiaConsumer StaplesGermany
HSBCcurtail Russian access to capital markets and limit new businessFinancialsUnited Kingdom
Hyattsuspend investments and new developmentsConsumer DiscretionaryUnited States
ID Logisticssuspend new investment in RussiaIndustrialsFrance
Idexx Labssuspend minor operations and new investmentsIndustrialsUnited States
ING Bankpause all new businessNetherlands
Ingram Microno new business in RussiaInformation TechnologyUnited States
Intercontinental Hotelsended new investments/closed corporate officeConsumer DiscretionaryUnited Kingdom
Intesa Sanpaolosuspend new investments and curtail new financingFinancialsItaly
IPG Photonicssuspend new investments and business development in RussiaInformation TechnologyUnited States
J. Neves & Fihos (JNF)paused distributionIndustrialsPortugal
Japan Tobaccostopped new investments and marketing activities in RussiaConsumer StaplesJapan
Johnson & Johnsonpause patient enrollment in ongoing trialsHealth CareUnited States
Julius Baersuspend new business in Russia and reduce current exposureFinancialsSwitzerland
KCA Deutagsuspend investmentsEnergyUnited Kingdom
KDDI Corpcontinue operations with local staffJapan
Kimberly-Clarksuspend new investments in RussiaConsumer StaplesUnited States
Knaufstill operating across 14 sites in Russia but suspend new investmentsMaterialsGermany
Kraft Heinz – JBSstopped new investments and exports/imports from RussiaIndustrialsUnited States
Kubíček VHSStopped cooperationIndustrialsCzech Republic
Lamb Westonhalted the export of products to/from Russia and suspended investments in new productionIndustrialsUnited States
Lotosready to stop spot purchases of Russian oilEnergyPoland
Loulis Millssearch for alternative suppliersConsumer StaplesGreece
Maire Tecnimonetsuspended commercial activities; managing existing backlogItaly
Manitowocstopped taking new orders, still maintaining office in RussiaIndustrialsUnited States
Marelpaused new projectsConsumer StaplesIceland
Marriottsuspend new investment/close corp. officeConsumer DiscretionaryUnited States
Melaminmaking up for shortfall from sanctionsMaterialsSlovenia
Merckno further investments/clinical trial enrollmentHealth CareUnited States
Mocaporpaused exportsIndustrialsPortugal
Mohawk Industriessuspend new investments in RussiaConsumer DiscretionaryUnited States
Mondelez – Nabiscoscaling back unspecified non-essential activities in RussiaIndustrialsUnited States
National Oilwell Varcosuspend all new investments in RussiaUnited States
Naust Marinestopped projects in RussiaIndustrialsIceland
Nestlehalted non-essential imports/exports to Russia, stopped all advertising, and suspended all capital investmentConsumer StaplesSwitzerland
Nippon Steelsearching to replace Russian suppliesJapan
Novartispause all new capital investments, media advertising and other promotions; pause new clinical trials and enrollment of new patientsHealth CareSwitzerland
Novo Nordiskcontinue operations but pause new investments, marketing and clinical trialsDenmark
NTPCdifficulty in transacting with Russian counterparties due to SWIFT issues etcIndia
OMVno new Russian investments; doing strategic review of current Russian gas investmentsEnergyAustria
Otis Worldwideno new investments/new contracts but fulfill existing agreementsIndustrialsUnited States
Pfizerstopped new investments/clinical trials in RussiaHealth CareUnited States
Philip MorrisStop new investments including $150MM, paused marketing, canceled product launchesConsumer StaplesUnited States
Philipsmost operations continue, ended some consumer productsNetherlands
Polpharmastop all new investments and limit deliveries to essential drugs onlyHealth CarePoland
Pottingerlimited deliveries to Russia sales subsidiaryAustria
Procter & Gamblescale back unspecified operations in Russia and stop new investmentsConsumer StaplesUnited States
Red Bullsuspend new investmentsConsumer StaplesAustria
RHI Magnesitaselling down existing stocks in RussiaAustria
Ritter Sporthalt new investments and advertisingConsumer StaplesGermany
Rochepause new site activation and patient enrollment; continue operatingHealth CareSwitzerland
Rockwoolcancel new investments in RussiaIndustrialsDenmark
Saipemhalt new investmentsEnergyItaly
Sanofihalting advertising and promotional spending and new recruitment of patients clinical trials, continue medical supply and treating current patientsHealth CareFrance
Sarandopoulos Cylindrical Millssearch for alternative suppliersConsumer StaplesGreece
SC Johnsonstopped new investments and scaled back unspecified operationsConsumer StaplesUnited States
Schlumbergerstopped new investment and technology deployment to our Russia operationsEnergyUnited States
Schneider Electrichalted new investments and international delivery of new project orders destined to Russia and BelarusIndustrialsFrance
Siemensall new business in and international deliveries to Russia and Belarus are on holdIndustrialsGermany
Siemens Energy AG (Independent)freeze new business in RussiaIndustrialsGermany
Sigma GroupStopped cooperationIndustrialsCzech Republic
SRVoutline steps to stop procurement of building materials from RussiaMaterialsFinland
Subwaysuspend new investments/advertisingUnited States
Sumitomo Mitsui Financialcontinue operations with local staffJapan
Technip Energiescontinuing existing projects; no new businessFrance
Tormno new business with RussiaDenmark
ToshulinStopped cooperationIndustrialsCzech Republic
Trafigurafroze investments in RussiaEnergySingapore
TZMOstopped new investmentsPoland
UBSsuspend new business in Russia and reduce current exposure by helping clients unwind Russia securitiesFinancialsSwitzerland
Unileverstopped inports/exports and stopped all advertising and investmentsConsumer StaplesUnited Kingdom
Vestascontinue operations but no new contractsDenmark
Vimeonot accept new customers from RussiaUtilitiesUnited States
Weatherford Internationalsuspend new investments/deployments in RussiaEnergyUnited States
Welltecsuspend all new investments in RussiaDenmark
WePlayfreeze Russian-language projectsUtilitiesUnited States
Wintershall Dea AGmaintain Russian natural gas projects and critical infrastructure; write-off Nord Stream2 loansEnergyGermany
Young Livingsuspend new investments in RussiaConsumer StaplesUnited States
Yves Rochersuspend new investments/developmentConsumer StaplesFrance

Scaling Back

Reducing Current Operations (99 Companies) (Grade: C)

Companies that are scaling back some significant business operations but continuing some others…

AGCOstop sale of new machines to RussiaUnited States
AkzoNobelsuspend new investments in Russia; end Aerospace workMaterialsNetherlands
Allianzmeaningfully reduce exposure to RussiaFinancialsGermany
Amadeus IT Groupsuspend partnership with AeroflotInformation TechnologySpain
AmRestsuspend operations with some brands in RussiaConsumer StaplesSpain
Asporeducing operations in RussiaFinland
Bacardipaused exports to Russia but not domestic operationsConsumer StaplesBermuda
Beiersdorfmaintain skin and bodycare products; stop other productsConsumer StaplesGermany
Black Red Whitedivesting from Russian subsidiary, still has a significant stake in a company operating in Belarus, which also suspended Russian exportsConsumer DiscretionaryPoland
Boehringer Ingelheimscale back to just supplying medicineHealth CareGermany
Boschsuspend some shipments and plants but not allConsumer DiscretionaryGermany
Bungesuspend exports but continue certain domesticConsumer StaplesUnited States
Bureau Veritasscaled backIndustrialsFrance
Caterpillarsuspend minor Russian manufacturing facilities but not import salesIndustrialsUnited States
CHR Hansensuspend operations outside of staple food productsDenmark
Coinbaseblock certain illicit Russian accounts but not allFinancialsUnited States
Confor StepStopped producing or shipping to RussiaConsumer DiscretionaryPortugal
Corningsuspend almost all sales in Russia except minor life-saving productsInformation TechnologyUnited States
Deeresuspend shipments into Russia onlyIndustrialsUnited States
Dover Corporationramping down sales activity and focusing on liquidating working capitalUnited States
Dowsuspend investments/some purchases but not allMaterialsUnited States
Eatonstop shipments to Russia; maintains servicesUnited States
Eimskipreduced operation in RussiaIndustrialsIceland
Elancoscale back to critical products to ensure food securityUnited States
Elseviersuspended all sales except essential health productsCommunication ServicesUnited States
Enelsuspend current investments; working to divest current assetsItaly
FANUCstopped shipments and limited serviceInformation TechnologyJapan
Ferrerosuspend non-essential business activityConsumer StaplesItaly
Fieldfisherterminate certain Russian relationshipsIndustrialsUnited Kingdom
FIGMAcontinue current business & stop all new sales efforts in RussiaInformation TechnologyUnited States
Fortivesuspend most operations except medical essentialsIndustrialsUnited States
GEstopped sales in Russia and Belarus except medical equipment and support for electric power generation and transmissionIndustrialsUnited States
General Millssuspended sales of global brands in its JVConsumer StaplesUnited States
Goldman Sachswind down business in Russia but buy Russian debtFinancialsUnited States
Groupe BPCEsuspend many transactions and cease new financingFinancialsFrance
Halliburtonsuspend future business in Russia and wind down currentEnergyUnited States
HILTIlimiting sales and workforce in RussiaLiechtenstein
Hostingerstop accepting payments for new purchases and renewalsInformation TechnologyLithuania
Idemitsu Kosanstop coal imports; lubricants business unchangedJapan
IndusInd Bankcan no longer clear rupee rouble conversionsIndia
Ingersoll Randscale back to only health critical servicesUnited States
Ingkastop all exports, IKEA production; keep open retail centers (Mega)Consumer DiscretionaryNetherlands
International Biathlon UnionRussians to compete as neutral athletes
Iskratelpaused some business with RussiaCommunication ServicesSlovenia
Ivecosuspend deliveries to Russia; truck JV still in operationsIndustrialsItaly
JPMorganwind down business in Russia but buy Russian debtFinancialsUnited States
Kelloggsuspend new investments except essentials (minor)Consumer StaplesUnited States
Kotak Mahindrapaused transaction through cards in RussiaIndia
Legal & Generalreduce exposureFinancialsUnited Kingdom
Lindedivest certain industrial assets and suspend new development/investmentsEnergyGermany
Loyalty Venturesscaled back most services and stopped new salesUnited States
LyondellBasellend all business with state-controlled entitiesMaterialsNetherlands
Marsscale back business and stopped advertising/new investments/exports in RussiaConsumer StaplesUnited States
Marubeniscaling down but still in numerous projects across RussiaJapan
Maruti Suzukisuspend car exportsIndia
Mashreqbankhalt loans to RussiaFinancialsUnited Arab Emirates
Microsoftsuspend new sales in Russia but existing users can still accessInformation TechnologyUnited States
Mielesuspend operations except exempt healthcareConsumer DiscretionaryGermany
Milliken & Costill operating in RussiaMaterialsUnited States
Miroclose office in Moscow & pause new salesUtilitiesNetherlands
Nalco Water (Ecolab)suspended services except services critical to healthIndustrialsUnited States
Naturasuspend some subsidiary operations but not allUnited States
NielsenIQsuspend consulting service but not core businessIndustrialsUnited States
Nokian Tyresmeaningfully reduce production in RussiaConsumer DiscretionaryFinland
Norsk Hydroreduced deliveries and supplies to the contractual minimum for some commitments, and is suspending deliveries and supply in several contractsMaterialsNorway
Oriflame Cosmeticssuspend online sales to end consumers but not othersConsumer StaplesSwitzerland
Orionstop exports to RussiaFinland
Orstedend coal and biomass purchases, refuse to pay for gas in roublesDenmark
Pepsisuspend operations in Russia except essentialsConsumer StaplesUnited States
Pirellisuspend new investments in Russia and scale back productionConsumer DiscretionaryItaly
PKN Orlen SAstopped maritime oil shipments, diversifying supplyEnergyPoland
Polskie Górnictwo Naftowe i Gazownictwo SAhalts import of Russian gas beginning 2023EnergyPoland
PPGscale back majority of operations and suspend new investments in RussiaMaterialsUnited States
Reliancereleased intention for avoid Russian fuelIndia
Rosenbauerno new business; continue servicing fire engine pumps in Russian JVAustria
Royal DSMstopped all operations in Russia other than basic food/feed/essential health activitiesNetherlands
Sabresuspend certain partnerships with AeroflotInformation TechnologyUnited States
Saint-Gobainsuspend exports and imports but not local operationsIndustrialsFrance
SBIstopped processing transactions of sanctioned Russian entitiesIndia
Scopelysuspend marketing and commerceUtilitiesUnited States
SEBscaling down operations in RussiaSweden
Sinopecsuspend $500MM new investment and significant operations and partnershipsEnergyChina
Skaddensuspend certain operations in Russia but not allIndustrialsUnited States
Tata Motorspaused sale of JLR in RussiaIndia
Tchibosuspend coffee deliveries but not other linesConsumer StaplesGermany
Tennantsubstantially suspending sales to RussiaConsumer DiscretionaryUnited States
Tetra Pakstopped new investments and scaled down activitiesSweden
Tikkurilareduce Russian operations; stop sales to aerospaceFinland
Tokio Marinesuspend new contracts and repatriate employeesJapan
Total Energiesno longer will provide capital for new projects in Russia/stop purchasing Russian oilEnergyFrance
Tungsramstopped producing products and projectsUtilitiesHungary
Uniper SEsuspend new Russian gas purchases/divest UniproUtilitiesGermany
Vattenfallshifting energy purchases away from RussiaSweden
Wartsilasuspend all deliveries and new sales to Russia; continue ongoing projectsIndustrialsFinland
Westinghouse Air Brake Technologies Corpstopped sales to RussiaUnited States
Whirlpoollimiting production in RussiaConsumer DiscretionaryUnited States
Wolters Kluwerscale back to just health products in RussiaNetherlands
Yum Brandssuspend operations of company-owned restaurants and new investments in RussiaConsumer DiscretionaryUnited States
Zoetissuspend investments & focus on supply of medicines and vaccinesHealth CareUnited States


Keeping Options Open for Return (360 Companies) (Grade: B)

Companies temporarily curtailing most or nearly all operations while keeping return options open…

3Msuspend operations in RussiaIndustrialsUnited States
AAKhalted delivery and salesConsumer StaplesSweden
Abrdnsuspend investments in Russia and reduce exposureFinancialsUnited Kingdom
ACCAsuspend operations in Russia and BelarusUtilitiesUnited Kingdom
Acersuspend its business in RussiaInformation TechnologyTaiwan
Adidassuspend operations in RussiaConsumer DiscretionaryGermany
Adobesuspend all sales in RussiaInformation TechnologyUnited States
ADPsuspend sales/services to RussiaInformation TechnologyUnited States
AICPAsuspend sale and delivery of services indefinitelyUtilitiesUnited States
Air Astanasuspend flights to RussiaConsumer DiscretionaryKazakhstan
Airbussuspend supply of parts to AeroflotIndustrialsNetherlands
Akamaisuspend sales in RussiaInformation TechnologyUnited States
Akin Gumpsuspend operations in RussiaIndustrialsUnited States
AL-KO Vehicle Technologysuspend deliveries to Russia and BelarusConsumer DiscretionaryGermany
Alimentation Couche-Tardsuspend operationsConsumer StaplesCanada
Alphabetsuspend all operations in RussiaCommunication ServicesUnited States
Alstomsuspend shipments to RussiaIndustrialsFrance
AM Bestsuspend all commercial activities to Russian clientsInformation TechnologyUnited States
Amazonsuspend operations in RussiaConsumer DiscretionaryUnited States
Ambarellasuspend shipments into RussiaInformation TechnologyUnited States
American Expresssuspend operations in RussiaFinancialsUnited States
Amwaysuspend operations in RussiaConsumer StaplesUnited States
Analog Devicessuspend sales to Russia according to sanctionsUnited States
Aon PLCsuspend operations in RussiaFinancialsUnited Kingdom
Applesuspend all salesInformation TechnologyUnited States
ARMsuspend shipments according to sanctionsUnited Kingdom
ASBISsuspended economic activities in RussiaCyprus
Asian Infrastructure Investment Bankcurtail Russian access to capital marketsFinancialsChina
Association of International Certified Professional Accountantsindefinite suspension of services within RussiaIndustrialsUnited States
Aston Martinsuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
Atlas Copcosuspend deliveries in RussiaIndustrialsSweden
Atlassiasuspend software sales to RussiaInformation TechnologyAustralia
Audisuspend operations at Kaluga assembly plantConsumer DiscretionaryGermany
Azerbaijan Airlinessuspend flights to RussiaConsumer DiscretionaryAzerbaijan
B Labsuspend Russian companies from obtaining certificationsUtilitiesUnited States
Badminton World Federationcancel all tournaments
Bang & Olufsensuspended deliveries and sales to RussiaConsumer DiscretionaryDenmark
Bank of Chinacurtail Russian access to capital marketsFinancialsChina
Bentleysuspend all shipments to RussiaInformation TechnologyUnited States
Big Fish Gamessuspend downloadable game business in RussiaConsumer DiscretionaryUnited States
BMWsuspend exports to and production in RussiaConsumer DiscretionaryGermany
BNP Paribassuspend new business in Russia/curtail financingFinancialsFrance
Boeingsuspend operations in Russia/titanium purchasesIndustrialsUnited States
Bombardierrestrict Russian businessIndustrialsCanada
Boosteroid Cloud Gamingsuspend services to RussiaUtilitiesUnited Arab Emirates
Boryszewsuspended operations in RussiaMaterialsPoland
Bravsuspend sales and operations in RussiaNorway
Bridgestone Tiresuspend manufacturing in Russia and shipments intoConsumer DiscretionaryJapan
BUDVAR Centrum Sp.Poland
Budweiser Budvarsuspends production and supply of beerConsumer StaplesCzech Republic
Burberrysuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
Burger King (Restaurant Brands)halt corporate support for franchisesIndustrialsUnited States
Buta Airwayssuspend flights to RussiaConsumer DiscretionaryAzerbaijan
Canada Goosesuspend all shipments to RussiaConsumer DiscretionaryCanada
Canadian Tireclose Russia storesConsumer DiscretionaryCanada
Canonsuspend deliveries in RussiaInformation TechnologyJapan
CBREdiscontinue Russian businessReal EstateUnited States
CCCsuspends operations in Russia (delivery to Russia, further expansion)Information TechnologyPoland
CERNsuspend Russia’s obeserver status; halt new collaborationsUtilitiesSwitzerland
Chanelsuspend all operations in RussiaConsumer DiscretionaryFrance
ChevronPausing all transactions and sales of refining products, lubricants, and chemicalsEnergyUnited States
Chipperfieldsuspend operations in RussiaConsumer DiscretionaryUnited Kingdom
Cie Automotivestemporarily shut down aluminum plantConsumer DiscretionarySpain
Cienasuspend business operations in RussiaInformation TechnologyUnited States
Ciscosuspend all operations in RussiaInformation TechnologyUnited States
Citiexpand the scope of the exit processFinancialsUnited States
Citrixsuspend all sales to RussiaInformation TechnologyUnited States
Cleary Gottliebsuspend Russian operationsIndustrialsUnited States
Cloroxsuspend business activity in RussiaConsumer StaplesUnited States
Clutchsuspend all business activityUtilitiesUnited States
CMA CGMsuspend all shipments to RussiaIndustrialsFrance
CME Groupsuspend acceptance of certain Russian commoditiesFinancialsUnited States
CNH Industrialsuspend sales to RussiaItaly
Coca-Colasuspend certain operations in RussiaConsumer StaplesUnited States
Cogent Communicationscut all internet to RussiaCommunication ServicesUnited States
Commerzbanksuspend operations in RussiaFinancialsGermany
Conde Nastsuspend all publishing operationsUtilitiesUnited States
Conformissuspend distribution operations in RussiaHealth CareUnited States
Continentalsuspend operations at a factoryConsumer DiscretionaryGermany
Costcostopped purchases from RussiaConsumer DiscretionaryUnited States
Cotysuspend commercial operations in RussiaConsumer StaplesUnited States
Credit Agricolesuspend all services in RussiaFinancialsFrance
Crocssuspend D2C businessConsumer DiscretionaryUnited States
d&b audiotechniksuspend all shipments to RussiaConsumer DiscretionaryGermany
DACHSERsuspend deliveries to RussiaUtilitiesGermany
Danahersuspended shipments to Russia except for humanitarian medical productsIndustrialsUnited States
Dassault Aviationsuspend all shipments to RussiaIndustrialsFrance
Debevoise & Plimptonsuspend operations in RussiaIndustrialsUnited States
Decathlonsuspend the operation of its stores in RussiaConsumer DiscretionaryFrance
Dellsuspend all shipments to RussiaInformation TechnologyUnited States
Depositphotosstop all sales and services to RussiaUtilitiesUkraine
Deutsche Bankwind down business in RussiaFinancialsGermany
DHLsuspend all shipments to RussiaIndustrialsGermany
Diageosuspend all shipments to RussiaConsumer StaplesUnited Kingdom
DirecTVcut Kremlin backed TV networksCommunication ServicesUnited States
Discoversuspend efforts to establish Russian presenceCommunication ServicesUnited States
Disneypause new content releasesCommunication ServicesUnited States
DPDsuspend shipments to RussiaIndustrialsGermany
DSV A/Ssuspend all shipments to RussiaIndustrialsDenmark
Dunkin Donutshalt corporate support for franchiseesConsumer DiscretionaryUnited States
DuPontsuspend operations in Russia and BelarusMaterialsUnited States
eDreams ODIGEOcease all operations involving RussiaConsumer DiscretionarySpain
Edringtonsuspend all shipments to RussiaConsumer StaplesUnited Kingdom
Egon Zehnderstop operations in RussiaIndustrialsUnited States
Electroluxsuspending all shipments into RussiaSweden
Elopaksuspends all activitiesMaterialsNorway
Embraersuspend supplying parts and services to RussiaIndustrialsBrazil
Epirocpause all deliveries to Russia and no operations domesticallyConsumer StaplesSweden
Eppendorf SEsuspend exports to Russia; keep rep office openHealth CareGermany
Epsonsuspend exports to Russia & BelarusConsumer DiscretionaryJapan
Equinixsuspend Russian partnerships and customersReal EstateUnited States
Ericssonsuspend all shipments to RussiaInformation TechnologySweden
Estee Laudersuspend operations in RussiaConsumer StaplesUnited States
European University Associationcease cooperation with governmental agencies in Russia
Exorholding company’s assets are suspending operationsFinancialsNetherlands
FedExsuspend all shipments to RussiaIndustrialsUnited States
Ferrarisuspend sales in RussiaConsumer DiscretionaryItaly
FIDEsuspend Russian & Belarussian teams from participation in tournamentsSwitzerland
Finnlinessuspend all traffic to RussiaUtilitiesFinnland
Fiverrsuspend businessUtilitiesIsarel
Fordsuspend joint ventures in RussiaConsumer DiscretionaryUnited States
Foster + Partnersstop work on projects in RussiaConsumer DiscretionaryUnited Kingdom
Fugrosuspend all projects in RussiaNetherlands
Fujitsucease orders and shipments to RussiaConsumer DiscretionaryJapan
Galpsuspend Russian oil-product purchases; eliminate Russian exposureEnergyPortugal
Garminstop all future trade with RussiaUnited States
Geberitdiscontinue all operations in Russia but continue to pay employeesIndustrialsSwitzerland
Gestampstopped productionConsumer DiscretionarySpain
GetYourGuidesuspend all Russian operationsUtilitiesSwitzerland
GMsuspend all shipments to RussiaConsumer DiscretionaryUnited States
Goodyearsuspend shipments of tires to RussiaUnited States
Graphisoftsuspended new activities, disabled access to our commercial services in RussiaInformation TechnologyHungary
Grundfossuspend all operations and sales in RussiaDenmark
Grupo Antolínsuspend operations in RussiaConsumer DiscretionarySpain
Grupo BimboSuspended distribution of the Bimbo Brand at retail, but left Moscow Bimbo QSR plant operating for food service productsConsumer StaplesMexico
H&Msuspend all shipments to RussiaConsumer DiscretionarySweden
Hannover Rehalt underwriting businessUtilitiesGermany
Hapag Lloydsuspend all shipments to RussiaIndustrialsGermany
HARIBOsuspend production to RussiaConsumer StaplesGermany
Harley-Davidsonsuspending all business in RussiaConsumer DiscretionaryUnited States
Hellenic Bottling Companysuspend operations in RussiaConsumer StaplesGreece
Herbalifesuspend sales and shipments to RussiaConsumer StaplesUnited States
Hermessuspend all operations in RussiaConsumer DiscretionaryFrance
Herzog & de Meuronsuspend work on Russian projectsUtilitiesSwitzerland
HHLAsuspend entry of Russian shipments at owned portsFinancialsGermany
Hitachi Constructionsuspend all shipments to RussiaIndustrialsJapan
HMMsuspend all shipments to RussiaIndustrialsSouth Korea
Hondasuspend all shipments to RussiaConsumer DiscretionaryJapan
Honey Groupsuspend sales to RussiaConsumer StaplesFinland
Honeywellsuspend virtually all sales in RussiaIndustrialsUnited States
HP Enterprise (Independent from HP Inc.)suspend all shipments to RussiaIndustrialsUnited States
HP Inc.suspend all shipments to RussiaInformation TechnologyUnited States
Hugo Bosstemporarily close stores and e-commerce sitesConsumer DiscretionaryGermany
Hyundaisuspend manufacturing in RussiaConsumer DiscretionarySouth Korea
Iberiacanceling flights to RussiaConsumer DiscretionarySpain
IBMsuspend technology sales to Russia on Feb 24Information TechnologyUnited States
ICBCcurtail Russian access to capital marketsFinancialsChina
Ikeasuspend all operations in RussiaConsumer DiscretionarySweden
Illinois Tool Workssuspension of sales to RussiaUnited States
Imperial Brandssuspend operations in RussiaConsumer StaplesUnited Kingdom
Indeedsuspend service in RussiaIndustrialsUnited States
Inditexclose Russian stores and suspend salesConsumer DiscretionarySpain
Institute of Internal Auditorssuspend business in RussiaConsumer DiscretionaryUnited States
Intelsuspend sales to RussiaInformation TechnologyUnited States
Interactive Advertising Bureaususpend licensing in Russia and BelearusUtilitiesUnited States
Intercomm FoodsStopping shipments to RussiaConsumer StaplesGreece
International Canoe Federationsuspend Russian athletes & relocate Russian events
International Federation of Sport Climbingsuspend Russian teams from participation; supend Russian events
International Paraolympic Committebar Russian atheletes
Intuitsuspend customer accountsInformation TechnologyUnited States
Jablotronhalts sales and blocks data services to products assempled in RussiaConsumer DiscretionaryCzech Republic
Jaguarsuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
JCBsuspend operations in RussiaFinancialsJapan
JD Sportssuspend operations in RussiaConsumer DiscretionaryUnited Kingdom
Johnson Controlssuspend operations in RussiaIndustrialsIreland
Julipedrasuspended exports to RussiaMaterialsPortugal
Jungheinrichkeep Russia office; stop exports to RussiaIndustrialsGermany
Juniper Networkssuspend sales in RussiaInformation TechnologyUnited States
Kemirasuspend deliveries to RussiaConsumer DiscretionaryFinland
Kepenou Millsstop wheat orders from RussiaConsumer StaplesGreece
Keringclose all stores in RussiaConsumer DiscretionaryFrance
Kerry Groupsuspending operationsConsumer StaplesIreland
KGHMsuspended Russian contracts, subsidiary ZANAM Vostok in RussiaMaterialsPoland
Kinross Goldsuspend operations in RussiaMaterialsCanada
Knight Franksuspend substantive operations in RussiaReal EstateUnited Kingdom
Komatsususpend all shipments to RussiaIndustrialsJapan
KONEsuspend deliveries to Russia & stop new Russian ordersConsumer DiscretionaryFinland
Konica Minoltanew shipments suspendedConsumer DiscretionaryJapan
Korn Ferrysuspend business in RussiaCommunication ServicesUnited States
Kurokesususpend shippments to RussiaConsumer DiscretionaryLithuania
L’Occitaneclose all stores and e-commerce site in RussiaFrance
L’Orealsuspend operations in RussiaConsumer DiscretionaryFrance
LCBOsuspend Russian-produced productsConsumer StaplesCanda
Legosuspend all shipments to RussiaIndustrialsDenmark
Leica Camera AGsuspend operations in RussiaInformation TechnologyGermany
Leonardopause all JVs in Russia; helicopter productionItaly
Levi Strausssuspend all sales in RussiaInformation TechnologyUnited States
Lexmarksuspend shipments to RussiaConsumer DiscretionaryUnited States
LG Electronicssuspend all shipments to RussiaMaterialsSouth Korea
Lindt-Sprunglisuspend operations in RussiaIndustrialsSwitzerland
Little Caesar’ssuspend Russian franchise supportCommunication ServicesUnited States
Lladrósuspended service and shipment to Russia. No new requestsConsumer DiscretionarySpain
Logitechsuspend shipments to RussiaFinancialsSwitzerland
Louis Dreyfussuspend operations in RussiaConsumer StaplesNetherlands
Lumencut networks to RussiaCommunication ServicesUnited States
LUSHsuspend online sales & supply to RussiaConsumer DiscretionaryUnited Kingdom
LVMHsuspend all operations in RussiaConsumer DiscretionaryFrance
M&Gphased divestment of Russian assetsConsumer DiscretionaryUnited Kingdom
Maersksuspend all shipments to RussiaIndustrialsDenmark
Magnasuspend Russian plantsConsumer DiscretionaryCanada
Magna Steyrsuspend deliveries to RussiaAustria
Mangosuspend direct operations in RussiaSpain
Mannheimer Swartlingsuspend all operationsUtilitiesSweden
Manolo Blahniksuspend sales to RussiaConsumer DiscretionaryUnited Kingdom
Marks & Spencersuspend all shipments to RussiaConsumer StaplesUnited Kingdom
Marvellsuspend all sales to Russia in compliance with sanctionsUnited States
Mastercardsuspend operations in RussiaInformation TechnologyUnited States
Mattelsuspend shipments into RussiaConsumer DiscretionaryUnited States
Mazdasuspend all shipments to RussiaConsumer DiscretionaryJapan
McCain Foodssuspend operations in RussiaConsumer StaplesCanada
McCormicksuspend operations in RussiaConsumer StaplesUnited States
McDonald’ssuspend direct operations/restaurantsConsumer DiscretionaryUnited States
Meggitcease all imports and exports with RussiaIndustrialsUnited Kingdom
Mercedes-Benzsuspend all shipments to RussiaIndustrialsGermany
Metasuspend Russian advertisingCommunication ServicesUnited States
Metsasuspend operations at Russian millFinland
Metso Outotecsuspend all shipments to RussiaIndustrialsFinland
Mettler Toledosuspend all shipments to RussiaHealth CareUnited States
Michelinsuspended all operations in RussiaConsumer DiscretionaryFrance
MicronSuspend shipments to Russia according to sanctionsUnited States
Milk Hydrosan sp. z o.o.suspended Russian contractsIndustrialsPoland
Mitsubishi Motorssuspended operations at Russian plantJapan
Mobatime (Elekon)stopped activity and remotly stopped clock on Russian Academy of SciencesConsumer DiscretionaryCzech Republic
Monclersuspend operations in RussiaConsumer DiscretionaryItaly
MongoDBsuspend sales to Russia and BelarusUnited States
Mothercaresuspend operations in RussiaConsumer DiscretionaryUnited Kingdom
Motorola Solutionssuspend service orders to RussiaUnited States
Munich Renot renew current contracts & suspend new businessGermany
MV Groupsuspends all imports and orders, froze partner brandsConsumer StaplesLithuania
MVRDVsuspend operations in RussiaIndustrialsNetherlands
Namecheapstop offering products to RussiaInformation TechnologyUnited States
NCRsuspend sales to RussiaInformation TechnologyUnited States
Nemakhalt production in RussiaConsumer DiscretionaryMexico
Neste Oyjsuspend purchases of Russian oilEnergyFinland
NetAppsuspend business operations in RussiaInformation TechnologyUnited States
New Development Bankcurtail Russian access to capital marketsFinancialsChina
NHLpause all partnerships in RussiaFinancialsUnited States
Niantic Labsproducts made unavailable in RussiaConsumer DiscretionaryUnited States
Nikesuspend all operations in RussiaConsumer DiscretionaryUnited States
Nintendosuspend all sales in RussiaCommunication ServicesJapan
Nissansuspend all shipments to RussiaConsumer DiscretionaryJapan
Nozbecut off services for Russia and BelarusUtilitiesPoland
Nutanixpause all sales and support to RussiaInformation TechnologyUnited States
Nvidiasuspend all sales in RussiaInformation TechnologyUnited States
NXP Semiconductorssuspend all shipments to and business with RussiaInformation TechnologyNetherlands
Olvistop exports to RussiaConsumer StaplesFinland
Oraclesuspend all operations in RussiaInformation TechnologyUnited States
Panasonicsuspend operations in RussiaConsumer DiscretionaryJapan
Papa John’ssuspend support for all Russian franchisesConsumer DiscretionaryUnited States
Paramountpause new content releases to RussiaCommunication ServicesUnited States
Payoneerclose Russian accountsInformation TechnologyUnited States
Paypalsuspend operations in RussiaInformation TechnologyUnited States
Peak Designshut down sales to RussiaConsumer StaplesUnited States
Pernod-Ricardsuspended all operations in RussiaConsumer StaplesFrance
Pivovary Staropramensuspended beer exportsConsumer StaplesCzech Republic
Plzeňský Prazdrojsuspend sales to RussiaConsumer StaplesCzech Republic
Polarissuspend exports to RussiaUnited States
Ponsse PLCdiscontinue all operations in RussiaIndustrialsFinland
Porscheend shipments of new cars; dealerships running and warranty obligations honoredConsumer DiscretionaryGermany
Pradasuspend operations in RussiaConsumer DiscretionaryItaly
Preem ABsuspend purchases of Russian oilEnergySweden
Pumasuspend all shipments to RussiaConsumer DiscretionaryGermany
PVHsuspend operations in RussiaConsumer DiscretionaryUnited States
QScease activity with Russian customers & cease promotion of Russian universitiesUnited Kingdom
Qualcommsuspend shipments to RussiaInformation TechnologyUnited States
Rabobankcurtail Russian access to capital marketsFinancialsNetherlands
Rakovnický Pivovarstopped exports and withdrew some products for sale in RussiaConsumer StaplesCzech Republic
Ralph Laurenpause operations in RussiaConsumer DiscretionaryUnited States
Raytheonsuspend operations in RussiaIndustrialsUnited States
Reimasuspend all sales into RussiaFinland
Remitly Globalstop accepting new users in RussiaInformation TechnologyUnited States
Renaultsuspend operations in RussiaConsumer DiscretionaryFrance
Richemontsuspend all operations in RussiaConsumer DiscretionarySwitzerland
Ricohsuspend shipments to RussiaInformation TechnologyJapan
Rocaclosure of plantsConsumer DiscretionarySpain
Rockwell Automationsuspend operations in RussiaIndustrialsUnited States
Rolls Roycesuspend all shipments to RussiaIndustrialsUnited Kingdom
Rovioremove games from app stores in RussiaUtilitiesFinland
Royal Society of Chemistrypause activities with Russian institutionsUnited Kingdom
Safranstop all activities in RussiaIndustrialsFrance
Samsonite Internationalsuspend operations in RussiaConsumer DiscretionaryLuxembourg
Samsungsuspend all shipments to RussiaInformation TechnologySouth Korea
Sandviksuspend all operations in RussiaIndustrialsSweden
SAPstop all sales to Russia and shut down cloud operationsInformation TechnologyGermany
Scandinavian Tobaccosuspend most operations in RussiaConsumer StaplesDenmark
Scaniasuspend all sales in RussiaIndustrialsSweden
Schwarz Groupstop sales of Russian products in storesGermany
SKFpause exports to Russia and stop production in RussiaIndustrialsSweden
Skytraxsuspend all audit and rating analysisUnited Kingdom
Snapsuspend all sales to RussiaCommunication ServicesUnited States
SonoSimsuspend distributor relationship in RussiaHealth CareUnited States
Sonypause release of new films in Russia, suspending console and game sales in RussiaConsumer DiscretionaryJapan
SSABshipments and sales to Russia discontinuedSweden
Starbuckssuspend all operations in RussiaConsumer DiscretionaryUnited States
Stellantissuspend operations in RussiaConsumer DiscretionaryNetherlands
Stora Ensostop all production and sales in RussiaMaterialsFinland
Storytelpause operations in RussiaUtilitiesSweden
Subarususpend all shipments to RussiaConsumer DiscretionaryJapan
Sumitomo Groupscaling back or suspending all Russian-related businessJapan
Supercellremove games from app stores in RussiaUtilitiesFinland
Swatchsuspend direct operations in RussiaConsumer DiscretionarySwitzerland
Sylvamosuspend operations in RussiaMaterialsUnited States
Systemairsuspend all sales to RussiaSweden
T MachineryStopped cooperationIndustrialsCzech Republic
Taningoods are stoppedConsumer DiscretionarySlovenia
Tendamsuspend activity in RussiaConsumer DiscretionarySpain
The Navigator Companysuspend all marketing in RussiaMaterialsPortugal
Thermo Fishersuspend sales and manufacturing in RussiaHealth CareUnited States
TikToksuspend operations in RussiaCommunication ServicesUnited States
Timkensuspend operations in RussiaIndustrialsUnited States
Tousclose shops and online store in RussiaConsumer DiscretionarySpain
Toyotasuspend all shipments to RussiaConsumer DiscretionaryJapan
Trane Technologiessuspend shipments to RussiaIndustrialsIreland
Trelleborg Groupsuspended deliveries and sales to RussiaIndustrialsSweden
Trimblesuspend all sales in RussiaInformation TechnologyUnited States
TSMCsuspend all shipments to RussiaInformation TechnologyTaiwan
TTC Holdingsuspended activitiesReal EstateCzech Republic
Twin Discsuspend all shipments to RussiaIndustrialsUnited States
Twittersuspend certain operations in RussiaCommunication ServicesUnited States
Ubisoftsuspend new sales to RussiaUtilitiesFrance
UiPathsuspend sales in RussiaUnited States
ULstop all work in Russia and BelarusUnited States
Under Armoursuspend all shipments to RussiaConsumer DiscretionaryUnited States
Uniqlo/Fast Retailingsuspend operations in RussiaIndustrialsUnited States
Universalsuspend operations in RussiaHealth CareUnited States
UPMtemporarily suspend operations and sales in RussiaFinland
UPSsuspend all shipments to RussiaIndustrialsUnited States
Valero Energysuspend purchases of Russian oilEnergyUnited States
Vičiūnaisuspended all investments, operations, productions, and tradeConsumer StaplesLithuania
Vietnam Airlinessuspend flights to RussiaConsumer DiscretionaryVietnam
Visasuspend operations in RussiaInformation TechnologyUnited States
Vivasuspend purchases of Russian oilEnergyAustralia
VMWaresuspend operations in RussiaInformation TechnologyUnited States
Volkswagensuspend all shipments to RussiaConsumer DiscretionaryGermany
Volvosuspend all shipments to RussiaIndustrialsSweden
WarnerMediapause new content releasesCommunication ServicesUnited States
WEKAsuspend business and concrete deals with RussiaInformation TechnologyUnited States
Western Unionsuspend operations in RussiaInformation TechnologyUnited States
WeTransfersuspend all services in RussiaFinancialsUnited States
William Grant & Sonssuspend all shipments to RussiaConsumer StaplesUnited Kingdom
Wise PLCsuspend Russian partnershipsInformation TechnologyUnited Kingdom
Wizz AirAir flights to/from Russia are temporarily suspendedIndustrialsHungary
Xeroxsuspend shipments to RussiaInformation TechnologyUnited States
Yarasuspend all imports from RussiaNorway
YKK Groupsuspend operations in RussiaIndustrialsJapan
Yokohamahalt production in RussiaIndustrialsJapan
Zegna Groupsuspended all shipments to and production for Russia partnersItaly
Zetorsuspend all cooperation with RussiaIndustrialsCzech Republic
ZHAsuspend operations in RussiaIndustrialsUnited Kingdom
Zyngasuspend all installations, monetization and marketing supportUtilitiesUnited States


Clean Break – Surgical Removal, Resection (288 Companies) (Grade: A)

Companies totally halting Russian engagements or completely exiting Russia…

Accentureexiting Russia completelyInformation TechnologyIreland
Accountorwithdrawal from RussiaInformation TechnologyFinland
Acronissuspend operations in RussiaInformation TechnologySwitzerland
Activision Blizzardsuspend all sales in RussiaCommunication ServicesUnited States
Adamedhalted sales to RussiaHealth CarePoland
Adenzasuspend operations in RussiaIndustrialsUnited Kingdom
AECOMsuspend operations in RussiaIndustrialsUnited States
AerCapcease lending to RussiansIndustrialsIreland
Air Maltasuspend all flights to and from RussiaIndustrialsMalta
Air Productsfull divestiture from RussiaMaterialsUnited States
AirBalticleave Russian market until further noticeConsumer DiscretionaryLatvia
Airbnbsuspend bookings in RussiaConsumer DiscretionaryUnited States
Akvelonclose offices in MoscowInformation TechnologyUnited States
Alaska Airlinessuspend Russian partnershipsIndustrialsUnited States
Alcoasuspend all business with RussiaMaterialsUnited States
Aldiremove products from RussiaConsumer StaplesGermany
Allegrobans Russian & Belarussian productsConsumer DiscretionaryPoland
Allen & Overywind down Russian operationsIndustrialsUnited Kingdom
AMDsuspend all sales to RussiaInformation TechnologyUnited States
American Airlinesno flying over Russian airspace/suspension of Russian partnershipsIndustrialsUnited States
Amicasuspended Russian exportsConsumer DiscretionaryPoland
ArcelorMittalremoved all Russian materials from supply chainMaterialsLuxembourg
Arendt & Medernachclose Russian office and suspend select Russian client engagementsIndustrialsLuxembourg
Arlasuspends all operationsConsumer StaplesDenmark
Asdaremove products from RussiaConsumer StaplesUnited Kingdom
Asossuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
Assicurazioni Generaliexit Russia completelyFinancialsItaly
Atosexit from RussiaInformation TechnologyFrance
Atriaexit business in RussiaConsumer StaplesFinland
Authentic Brands Group – Reeboksuccessfully completed suspension of all operationsIndustrialsUnited States
Autodesksuspend operations in RussiaInformation TechnologyUnited States
Avantordiscontinue all sales into Russia, direct and indirectUnited States
Avery Dennisonexit Russian operationsMaterialsUnited States
Avidsuspend all sales to RussiaInformation TechnologyUnited States
Bainsuspend consulting for all Russian businessesFinancialsUnited States
Baker Bottssuspend operations in RussiaIndustrialsUnited States
Baker McKenziesuspend services for all Kremlin entities onlyIndustrialsUnited States
Baker Tillygradual wind down of operations in RussiaIndustrialsUnited Kingdom
Bakomawithdrew from Russia completely prior to aggressionConsumer StaplesPoland
Ball Corporationleave Russia completelyMaterialsUnited States
Banco Santander SAno presence in Russia; exposure to Ukrainian and Russian assets negligibleFinancialsPoland
BBDOexit Russian operationsCommunication ServicesUnited States
BCGsuspend all consulting in RussiaIndustrialsUnited States
Bestsellerstop all sales to RussiaDenmark
BlackRockcurtail Russian access to capital marketsFinancialsUnited States
Boltsuspend Russian partnershipsInformation TechnologyEstonia
Bonavaclose operations in RussiaSweden
Boohoo Groupsuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
Bookingsuspend bookings in RussiaConsumer DiscretionaryUnited States
Bosesuspend all operations in RussiaConsumer DiscretionaryUnited States
BPsuspend operations/divest from 20% Rosneft stakeEnergyUnited Kingdom
British American Tobaccoexit Russian operationsConsumer StaplesUnited Kingdom
Brown-Formansuspend commercial operations in RussiaConsumer StaplesUnited States
Bryan Caveexit Russian operationsIndustrialsUnited States
Bumblesuspend operations in RussiaCommunication ServicesUnited States
Cargoluxsuspend all shipments into and through RussiaIndustrialsLuxembourg
Carlsbergexit Russia completelyConsumer StaplesDenmark
Carnivaldiscontinue Russia itinerariesConsumer DiscretionaryUnited States
CD Projektsuspends sales of products in Russia & BelarusCommunication ServicesPoland
Centricaexit gas supply partnership with GazpromUtilitiesUnited Kingdom
Ceratizitstop all deliveries to Russia and BelarusIndustrialsLuxembourg
Cersanitput up its Russian business for salePoland
Ciechsuspended Russian exportsMaterialsPoland
Clarivateexit Russian operationsIndustrialsUnited Kingdom
Clifford Chancesuspend certain Russian relationshipsIndustrialsUnited Kingdom
ColliersDiscontinued business in RussiaReal EstateCanada
Comarchhalts orders from Russia & BelarusInformation TechnologyPoland
Compass Grouppermanently exit Russian marketConsumer StaplesUnited Kingdom
Coopfully divest Russian operations Transgourmet via management buyoutFinancialsSwitzerland
Coupasuspend operations in RussiaInformation TechnologyUnited States
Courserasuspend operations in RussiaConsumer DiscretionaryUnited States
CRHwithdrawal from RussiaMaterialsIreland
Cumminsexit Russian operationsIndustrialsUnited States
Currency.comhalting operations for residents of RussianFinancialsUnited Kingdom
Cushman & Wakefieldclose office in Russia; transfer to local partnerReal EstateUnited States
Cyfrowy Polsatremoving Russian TV channels from the offerCommunication ServicesPoland
Daimlersuspending all business in RussiaConsumer DiscretionaryGermany
Danfossexit Russia completelyDenmark
DB Schenkersuspend all shipments to RussiaIndustrialsGermany
DDBexit Russian operationsIndustrialsUnited States
Dechertsuspend operations in RussiaIndustrialsUnited States
Deezersuspend operations in RussiaCommunication ServicesFrance
Deichmannstop operations in RussiaConsumer DiscretionaryGermany
Deloitteleaving Russia completelyIndustrialsUnited States
Delta Air Linessuspend agreement with AeroflotIndustrialsUnited States
Demantstop all sales to RussiaDenmark
Dentonsexit Russian operationsIndustrialsSwitzerland
Dentsu Internationaldivest joint venture/leave RussiaCommunication ServicesUnited Kingdom
Deutsche Telekomclose Russian businessCommunication ServicesGermany
Dino Polskaremoved Russian productsConsumer StaplesPoland
DLA Pipersuspend certain operations in RussiaIndustrialsUnited States
Dr. Oetkerstops sales and production in Russia; transferred ownership of production facilitiesConsumer StaplesGermany
DXC Technologyleaving Russia completelyInformation TechnologyUnited States
EarthDaily Analyticssuspend operations in RussiaIndustrialsUnited States
eBaysuspend all shipments to RussiaConsumer DiscretionaryUnited States
edXwithdraw from all Russian partnershipsUnited States
Electronic Artssuspend all operations in RussiaCommunication ServicesUnited States
Elisa Esportsban Russian teams from participating in tournamentsUtilitiesFinland
ENEOSstop purchases of Russian crudeJapan
Enidivest Russian pipelineEnergyItaly
EPAMdiscontinue servicing Russian customersInformation TechnologyUnited States
Equinorexit joint ventures in RussiaEnergyNorway
Esricurtailing sales to RussiaInformation TechnologyUnited Kingdom
Etsydeactivate all listings from Russian sellersConsumer DiscretionaryUnited States
Eurovisionban on all Russian competitionFinancialsUnited Kingdom
Eversheds Sutherlandclose Russia officeIndustrialsUnited Kingdom
Expediasuspend bookings in RussiaConsumer DiscretionaryUnited States
Exxonexit Rosneft partnershipEnergyUnited States
EYleaving Russia completelyIndustrialsUnited States
Famursuspended Russian exportsIndustrialsPoland
Farfetchsuspend all shipments to RussiaConsumer DiscretionaryUnited Kingdom
Fazersuspend operations in RussiaConsumer StaplesFinland
Ferragamosuspend all shipments to RussiaConsumer DiscretionaryItaly
FICOexiting all work in RussiaInformation TechnologyUnited States
FIFAban Russian athletes from competingIndustrialsSwitzerland
Fiskarswithdraw completely from the Russian marketConsumer DiscretionaryFinnland
Fitchsuspend operations in RussiaFinancialsUnited States
FMC Corporationdiscontinue all business and operationsMaterialsUnited States
Fonterraexit its businesses in Russia.Consumer StaplesNew Zealand
Formula Onesuspend all operations in RussiaCommunication ServicesUnited Kingdom
Fortinetsuspend operations in RussiaInformation TechnologyUnited States
Freshfieldsclosing business in RussiaIndustrialsUnited Kingdom
G2Ablock marketplace for Russian usersCommunication ServicesNetherlands
Geodissuspend all shipments to RussiaIndustrialsFrance
Global Foundriessuspend all shipments to RussiaInformation TechnologyUnited States
GoDaddydiscontinue all Russian servicesInformation TechnologyUnited States
Gowlingleave RussiaUtilitiesCanada
Grainprosuspend all operations in RussiaMaterialsUnited States
Grammarlysuspend operations in RussiaInformation TechnologyUnited States
Grant Thorntonclosing business in RussiaIndustrialsUnited States
Grohecease all activities with RussiaGermany
Grupa Azotystopped exporting its products to Russia or BelarusMaterialsPoland
Hanielunwind all Russian businessMaterialsGermany
Heidrick & Strugglesceased all operations in RussiaIndustrialsUnited States
Heinekenexit Russia completelyConsumer StaplesNetherlands
Hempelexit RussiaIndustrialsDenmark
Herbert Smith Freehillssuspend operations in RussiaIndustrialsAustralia
Hogan Lovellsexit Russian operationsIndustrialsUnited Kingdom
Holcimexit Russian market completelyMaterialsSwitzerland
Huhtamakidivest Russian operationsFinland
Infosysshutting down operations in RussiaIndia
InPoststop purchasing services/goods from Russian & Belorussian companiesIndustrialsPoland
Intercontinental Exchangecurtail Russian access to capital marketsFinancialsUnited States
International Boxing Federationban on all Russian competitionIndustrialsFrance
International Cat Federationban Russian cats from competitionsIndustrialsCanada
International Cycling Unionban on all Russian competitionUnited States
International Ice Hockey Federationban on all Russian competitionSwitzerland
International Skating Unionban on all Russian competitionSwitzerland
International Tennis Federationsuspend Russian partnershipsIndustrialsUnited Kingdom
International Weightlifting Federationban on all Russian competitionSwitzerland
Interpublic Groupexit Russian operationsCommunication ServicesUnited States
IOCban Russian athletes from competingSwitzerland
ISSdivestment of all Russian business by end of yearDenmark
J Sainsburyremove products from RussiaConsumer StaplesUnited Kingdom
Jabilclosed its site in RussiaUnited States
Jamie Oliverexit franchise agreementConsumer StaplesUnited Kingdom
Jan de Nulclose rep office and withdraw shipsIndustrialsLuxembourg
JetBrainssuspend all activity indefinitelyInformation TechnologyCzech Republic
JLLSeparated operations in Russia.Real EstateUnited States
JYSKsuspend operations in RussiaFinancialsDenmark
Kalnapilis-Taurustermination of export ties and production in Russian MarketLithuania
Kearneysuspend work with Russian clientsIndustrialsUnited States
Keskostop sales to Russia and imports from RussiaFinland
Kiiltoseeking exit from Russian businessFinland
Kingspansuspend operations in RussiaIndustrialsIreland
KLPexit all investment holdings in RussiaNorway
Knorr-Bremsestop shipments to Russia; end JVsIndustrialsGermany
Konecranesstop all orders from RussiaFinland
Korean Air Linesno flying over Russian airspace until the end of AprilIndustrialsSouth Korea
KPMGleaving Russia completelyIndustrialsUnited States
Krispy Kremewinding down business in RussiaConsumer DiscretionaryUnited States
Krombacherstopped exports to RussiaConsumer StaplesGermany
Kuehne + Nagel AGsuspend all shipments to RussiaIndustrialsSwitzerland
Latham & Watkinssuspend operations in RussiaConsumer DiscretionaryUnited States
Lincoln Electricceased all operationsConsumer DiscretionaryUnited States
Linklaterssuspend operations in Russia, with entities connected to the Russian stateConsumer DiscretionaryUnited Kingdom
Live Nation Entertainmentsuspend all operations in RussiaInformation TechnologyUnited States
London Stock Exchange Groupcurtail Russian access to capital marketsConsumer StaplesUnited Kingdom
LPPleft RussiaConsumer DiscretionaryPoland
Lufthansasuspended flights and ended Russian aircraft maintenanceIndustrialsGermany
Marsh McLennanexit operations in RussiaFinancialsUnited States
McKinseysuspend all consulting in RussiaIndustrialsUnited States
Mitsubishi Electricstop sales to RussiaJapan
Mitsubishi UFJ Financial Groupclose operations in RussiaJapan
Monroe Energysuspend partnerships with RussiaEnergyUnited States
Moody’ssuspend operations within RussiaFinancialsUnited States
Morgan Advanced Materialssuspend all operations in RussiaIndustrialsUnited Kingdom
Morgan Lewissuspend operations in RussiaIndustrialsUnited States
Morrisonsremove products from RussiaConsumer StaplesUnited Kingdom
MSCtemporary suspension of all shipments to RussiaFinancialsUnited States
MSCIcurtail Russian access to capital marketsFinancialsUnited States
Nasdaqcurtail Russian access to capital marketsFinancialsUnited States
Naspersseparate from Avito and fully exit RussiaConsumer DiscretionarySouth Africa
NCAB Group ABSold assets and ceased operations in RussiaIndustrialsSweden
Netflixsuspend operations in RussiaCommunication ServicesUnited States
Netscoutsuspend Russian operationsInformation TechnologyUnited States
Nokiapulling out of Russia completelyInformation TechnologyFinland
Norton Rose Fulbrightexit from RussiaIndustrialsUnited Kingdom
Norwegian Cruise Linesdiscontinue Russian itinerariesConsumer DiscretionaryUnited States
OBIsuspend operations in RussiaConsumer DiscretionaryGermany
Oceania Cruisesdiscontinue Russian itinerariesConsumer DiscretionaryUnited States
Omnicom Group, Inc.exit Russian operationsCommunication ServicesUnited States
Omnicom Media Groupexit Russian operationsCommunication ServicesUnited States
OneWebsuspend use of Russian airspaceCommunication ServicesUnited States
Orklaexit Russian operationsConsumer StaplesNorway
Orlen Lietuvastopped Russian oil importsEnergyPoland
Pandorastop all sourcing from RussiaDenmark
Par Pacificsuspend partnerships with RussiaEnergyUnited States
Parker Hannifinclosed our office and warehouse facility in Moscow and no longer do business in this countryUnited States
Pauligsuspend operations in RussiaConsumer StaplesFinland
Pekao SAtransactions in Russian ruble suspendedFinancialsPoland
PKO BPsuspends transactions with Russian banks transactions in Russian ruble suspendedFinancialsPoland
Playmobilstop all sales to RussiaConsumer DiscretionaryGermany
Prioceased purchase of any products from Russian or directly related companiesEnergyPortugal
Prosusdivest from local subsidiaryNetherlands
Publicis Groupecede ownership to local affiliatesCommunication ServicesFrance
PwCleaving Russia completelyIndustrialsUnited States
PZU SAreduced position in Russian bonds to zeroFinancialsPoland
Qantas Airlinesno longer flies over Russian territoryAustralia
R&Aban on all Russian competitionIndustrialsUnited States
Radio Free Europesuspend operations in RussiaCommunication ServicesCzech Republic
Reckitt Benckiser Groupbegins a process aimed at transferring ownership of its Russia businessConsumer StaplesUnited Kingdom
Regent Seven Seas Cruisesdiscontinue Russian itinerariesConsumer DiscretionaryUnited States
Rio Tintoterminate all commercial relationships with RussiaAustralia
Rokuremove Kremlin-linked propaganda and adsCommunication ServicesUnited States
Rolexsuspend exports to RussiaConsumer DiscretionarySwitzerland
S Groupselling off all businesses in RussiaFinland
S Group (Suomen Osuuskauppojen Keskuskunta)close all operations operationsConsumer StaplesFinland
S&Pcurtail Russian access to capital marketsUnited States
Salesforcesuspend operations in RussiaInformation TechnologyUnited States
Savillsend partnerships in RussiaReal EstateUnited Kingdom
Shellsuspend operations in RussiaEnergyUnited Kingdom
Sidley Austinend all Russian relationshipsIndustrialsUnited States
Signet Jewelerssuspend operations in RussiaConsumer DiscretionaryUnited States
SKFend sales and production in RussiaSweden
Skodahalted production and stopped exportsConsumer DiscretionaryCzech Republic
SMAYstopped all Russian businessPoland
Societe Generalecessation of all activities in RussiaFinancialsFrance
Sonosceased all sales to this market at the onset of the war and blocked Russian state radioConsumer DiscretionaryUnited States
Spotifyclosed office and other restrictionsCommunication ServicesSweden
Squire Patton Boggssuspend operations in RussiaIndustrialsUnited States
Stanley Black & Deckersuspend operations in RussiaIndustrialsUnited States
State Streetcurtail Russian access to capital marketsFinancialsUnited States
Stora Ensostopped all production and salesMaterialsFinland
Storebranddivest all Russian holdingsNorway
Strabagwinding down operations in Russia; terminating shareholder syndicate agreements with DeripaskaAustria
Swarovskisuspend all sales in RussiaConsumer DiscretionaryLiechtenstein
Swecostop all projects in RussiaSweden
Take-Two Interactivesuspend all sales in RussiaCommunication ServicesUnited States
Teknotherm Marine HVAC sp. z o.o.complete withdrawal from RussiaPoland
Teradatastopped all business in RussiaInformation TechnologyUnited States
TJ Maxxdivest Familia subsidiaryConsumer DiscretionaryUnited States
TripAdvisorremove Kremlin-linked propaganda and adsCommunication ServicesUnited States
TUIend brand-sharing agreement; had already exitedConsumer DiscretionaryGermany
Uberdivest from partnership with YandexIndustrialsUnited States
UEFAban Russian athletes from competingIndustrialsSwitzerland
United Airlinesno flying over Russian airspaceIndustrialsUnited States
United Internet Groupsuspend all Russian contractsIndustrialsGermany
Upworksuspend operations in RussiaIndustrialsUnited States
Valioclose business operation in RussiaConsumer StaplesFinland
Vanguardsuspend operations in RussiaFinancialsUnited States
Veluxpermanently close operations in Russia and BelarusDenmark
Vinmonopoletstop sales of all Russian wine, spirits and strong beers in NorwayNorway
Vodafonesuspend partner agreement with MTSUnited Kingdom
Volfas Engelmansuspend investment and withdraw from Russian marketConsumer StaplesLithuania
Waitroseremove products from RussiaConsumer StaplesUnited Kingdom
Wargamingclose operations; transfer of some businessBelarus
Waters Corporationsuspend all sales and services into RussiaHealth CareUnited States
WeWorkplanning divestment of Russian operationsReal EstateUnited States
Wex Inc.ending relationship with Lukoil and subsidiariesInformation TechnologyUnited States
White & Casewind down Russian operationsIndustrialsUnited States
Wieltonsuspended Russian exportsIndustrialsPoland
Willis Towers Watsonfully exit Russia and transfer ownership to local managementFinancialsUnited Kingdom
Winston & Strawnsuspend operations in RussiaIndustrialsUnited States
Women’s Tennis Associationsuspend Russian partnershipsCommunication ServicesUnited States
World Athletics Councilban on all Russian competitionIndustrialsUnited States
World Boxing Associationban on all Russian competitionIndustrialsPanama
World Boxing Councilsuspend Russia from title fightsConsumer DiscretionaryMexico
World Boxing Organizationban on all Russian competitionIndustrialsUnited States
World Federation of Exchangessuspend all Russian members and affiliatesUnited Kingdom
World Rowing Federationban on all Russian competitionIndustrialsUnited States
World Rugby Unionban on all Russian competitionIndustrialsIreland
Wosebasuspends deliveries to RussiaIndustrialsPoland
WPP PLCsuspend all operations in RussiaCommunication ServicesUnited Kingdom
WWEsuspend all operations in RussiaCommunication ServicesUnited States
YITexits Russia projectsFinland
YOOXsuspend all shipments to RussiaConsumer DiscretionaryItaly
Żabkahalts orders from Russia & BelarusConsumer StaplesPoland

Author: John Hanno

Born and raised in Chicago, Illinois. Bogan High School. Worked in Alaska after the earthquake. Joined U.S. Army at 17. Sergeant, B Battery, 3rd Battalion, 84th Artillery, 7th Army. Member of 12 different unions, including 4 different locals of the I.B.E.W. Worked for fortune 50, 100 and 200 companies as an industrial electrician, electrical/electronic technician.