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Almost 1,000 Companies Have Curtailed Operations in Russia—But Some Remain

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Since the invasion of Ukraine began, we have been tracking the responses of well over 1,200 companies, and counting. Almost 1,000 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. We are humbled that our list helped galvanize nearly 1,000 companies to withdraw in the two months since. 

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 - as well as your 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. 

Click here to read the editorial from Jeffrey Sonnenfeld, Steven Tian, and Steven Zaslavsky in The Washington Post on how financial markets are rewarding companies for curtailing operations while punishing companies for remaining in Russia. 

Click here to read the editorial 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 "D"-rated and "F"-rated 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: May 16, 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 250+ company insiders, whistleblowers and executive contacts. 

Digging In

Defying Demands for Exit or Reduction of Activities (216 Companies) (Grade: F)

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

Name Action Industry Country
Aalberts still operating in Russia Industrials Netherlands
Acerinox still operating in Russia Materials Spain
Agrana continue operating plant in Russia Consumer Staples Austria
Agricultural Bank of China Russian companies open accounts with the bank; decline to comment Financials China
Aimbridge | Interstate Hotels still operating in Russia Consumer Discretionary United States
Air China still flying to Russia Industrials China
Air Serbia still flying to Russia Industrials Serbia
Alibaba still operating in Russia Consumer Discretionary China
Align Technology still operating in Russia Health Care United States
Alpina Žiri distributors in Russia Consumer Discretionary Slovenia
Alumil Not disclosed publicly Industrials Greece
Amdocs still cooperating with Russian partners; not disclosed publicly Information Technology United States
Amgen still operating in Russia Health Care United States
ANT Group joint venture with the Russian Sovereign Wealth Fund Information Technology China
Auchan-Retail still operating in Russia Consumer Staples France
Avaya still supporting Russian partners Information Technology United States
AVL still operating in Russia Industrials Austria
Bajaj Auto business as usual Industrials India
Bekaert still manufacturing for the Russian market Industrials Belgium
Benetton continue operations in Russia Consumer Discretionary Italy
Bharat Petroleum (BPCL) bought 2 million barrels of Russian Urals for May loading Energy India
Binbit Operating in Russia Information Technology Mexico
Bonduelle still operating in Russia Consumer Staples France
BPW still cooperating with dealers in Russia; not disclosed publicly Consumer Discretionary Germany
Buzzi Unicem continue operating plants in Russia Materials Italy
Calzedonia continue sales in Russia Consumer Discretionary Italy
Camille Albane franchised salons continue to operate Consumer Discretionary France
CANPACK still operating in Russia Industrials Poland
Canva still providing services to Russia Information Technology Australia
Cham Wings still flying to Russia Industrials Syria
Charoen Pokphand Foods still operating in Russia Consumer Staples Thailand
Check Point Software selling cybersecurity products in Russia Information Technology Israel
China Communications Construction Company planning new infrastructural projects Industrials China
China Construction Bank Russian companies open accounts with the bank; decline to comment Financials China
China Life Insurance Company offices in Russia, actively looks for new Russian employees Financials China
China Minmetals discussing investments with Chinese government to booster stakes in Russian energy and commodity companies Materials China
China Mobile business as usual Communication Services China
China National Petroleum Corporation business as usual Energy China
China Railway Construction Corporation continues to build Vladivostok highway in March 2022 Industrials China
China Railway Engineering Corporation business as usual Industrials China
China State Construction Engineering contractor to the Russian state Industrials China
China State Railway Group Company increasing coal shipments from Russia Industrials China
China United Network Communications a subsidiary in Russia: China Unicom (Russia) Operations Limited Liability Company; business as usual Communication Services China
Chipita Not disclosed publicly; still operating in Russia Consumer Staples Greece
Clarins still selling online in Russia Consumer Discretionary France
CLINTON still operating in Russia (Camp David) Consumer Discretionary Germany
Cloudflare continue sales & services in Russia Information Technology United States
Coal India expecting highest import level in 2 years Energy India
Cofix Coffee maintains locations in Russia Consumer Staples Israel
Colin's still selling online Consumer Discretionary Turkey
Corendon Airlines still flying to Russia Industrials Turkey
Cremonini Group continue sales in Russia Consumer Staples Italy
De Cecco continue sales and operations in Russia Consumer Staples Italy
Deep in Russia still offering trips to Russia Industrials Belgium
Dessange International still operating salons in Russia Consumer Discretionary France
Diadora still operating in Russia through local retailers; no public statement Consumer Discretionary Italy
Didi explicitly reversed decision to exit Russia Industrials China
Diesel still operating in Russia; not disclosed Consumer Discretionary Italy
Doka still manufacturing in Russia; not disclosed Industrials Austria
Donaldson Company continues sales to Russia Industrials United States
Dr Reddys Labs business as usual Health Care India
Duol still operating in Russia Consumer Discretionary Slovenia
Egger still operating in Russia Industrials Austria
Egyptair still flying to Russia Industrials Egypt
ELA Container still selling in Russia Industrials Germany
ElvalHalcor Not disclosed publicly Industrials Greece
Emirates Airlines still flying to Russia Industrials United Arab Emirates
EMS-Chemie still operating in Russia Industrials Switzerland
Etam still selling to Russia Consumer Discretionary France
Etihad Airways still flying to Russia Industrials United Arab Emirates
Eutelsat provide satellite TV services to Russia Communication Services France
Faurecia still operating and advertising in Russia Consumer Discretionary France
FAW Group remains silent on whether they will continue operations Industrials China
Fenzi Group still operating in Russia Industrials Italy
Fischer Sports still selling online Consumer Discretionary Austria
Fleetcor business as usual Financials United States
Flowserve still operating in Russia Industrials United States
Fluidra continuing sales in Russia Consumer Discretionary Spain
Fondital still operating and investing in Russia Industrials Italy
Foraco still operating in Russia Energy France
Forever Living Products still operating in Russia Consumer Discretionary United States
Frigoglass still operating in Russia Consumer Staples Greece
Gedeon Richter still operating in Russia Health Care Hungary
Geoplin still purchasing Russian gas from Gazprom Energy Slovenia
Giorgio Armani still operating in Russia Consumer Discretionary Italy
Global Fashion Group still operating in Russia Consumer Discretionary Luxembourg
Globus still operating in Russia Consumer Staples Germany
Gorenje still operating in Russia Consumer Discretionary Slovenia
Groupe Le Duff still operating in Russia Consumer Discretionary France
Groupe Savencia still operates in Russia Consumer Staples France
Grupo Borges | ITLV still operating in Russia Consumer Staples Spain
Grupo Fuertes still operating in Russia Consumer Staples Spain
Hampidjan still operating in Russia Industrials Iceland
Hard Rock Café still operating in Russia Consumer Staples United States
Heliski Russia cooperating with sanctioned individuals Industrials France
Hengli Group business as usual Energy China
Herend still operating in Russia Consumer Discretionary Hungary
Hindalco business as usual Materials India
Hoffmann Group still operating and advertising in Russia Industrials Germany
Honor business as usual Information Technology China
Huntsman Corporation still operating in Russia Materials United States
Ideal Molde still selling to Russia Industrials Portugal
Indian Oil Corporation signed new deal to import Russian oil Energy India
Industrial Bank (China) offices operating in Moscow, did not answer for Reuters' calls for commenting on that Financials China
International Baccalaureate Organization still offers professional development services to Russian teachers NGO Netherlands
International Paper still operating in Russia Materials United States
IQVIA still operating and actively hiring Industrials United States
Itochu continues oil & gas exploration partnerships Consumer Staples Japan
JD.com business as usual - the Russian store is still fully operational Industrials China
JDE Peet's still operating in Russia Consumer Staples Netherlands
Jean Cacharel still selling and advertising in Russia Consumer Discretionary France
JSW Steel business as usual Materials India
Kemin still operating in Russia; declined to commend Health Care United States
Kidzania Operating facility in Russia Utilities Mexico
Kleemann Not disclosed publicly Industrials Greece
Knarr Maritime members still operating in Russia Industrials Iceland
Koch Industries still operating in Russia Industrials United States
Kotanyi still exporting to Russia Consumer Staples Austria
Krka still operating in Russia Health Care Slovenia
Kronospan still operating in Russia Materials Austria
Kweichow Moutai business as usual Consumer Staples China
La Redoute still selling products to Russia Industrials France
Lacoste still operating in Russia Consumer Discretionary France
LACTALIS still operating in Russia Consumer Staples France
Larsen & Toubro business as usual Real Estate India
Legrand still operating in Russia Industrials France
Lemken still operating and advertising in Russia Industrials Germany
Leptos Estates continues operations in Russia Real Estate Cyprus
Leroy Merlin still operating in Russia Consumer Discretionary France
Letique Cosmetics maintains stores in Russia Consumer Staples Latvia
Liebherr No action taken; still operating in Russia Industrials Switzerland
Lisec still operating in Russia Industrials Austria
Luka Koper continuing trans shipments Industrials Slovenia
Mahindra & Mahindra business as usual Industrials India
Makita still working with dealers in Russia Industrials Japan
Makrochem SA still operating in Russia Industrials Poland
Match Group continue to operate in Russia including Tinder Information Technology United States
Maxam still operating in Russia Materials Spain
Medtronic continue operating subsidiary in Russia Health Care United States
Menarini Group continue operating plant in Russia Health Care Italy
Metro still operating in Russia Consumer Staples Germany
Micro-Star International Co. (MSi) still operating in Russia Information Technology Taiwan
Mitsubishi Heavy Industries still operating in Russia Industrials Japan
Mitsui continuing operations within sanctions compliance Energy Japan
Mizuho Financial Group still operating in Russia Financials Japan
Mod's Hair still operates in Russia Consumer Discretionary France
MOLGroup still operating in Russia Energy Hungary
Mondi continue operations in Russia Materials United Kingdom
New Yorker Marketing & Media GmbH continue to operate and open new stores Industrials Germany
Nippon Telegraph and Telephone Corporation continues to operate cloud services in Russia Communication Services Japan
Nor-Maali still operating in Russia Industrials Finland
NTT Data still operating and actively hiring Information Technology Japan
Oasis Logistics Corp “We are actively exploring opportunities to work with our Russian partners” Industrials China
OBO Bettermann still operating in Russia Industrials Germany
OCSiAl still running research center and branch Information Technology Luxembourg
OKI still operating in Russia; not disclosed Information Technology Japan
ONGC aggressive selling of Russian Sokoil to other Indian Nationalised Energy corps Energy India
Oppo business as usual Information Technology China
Orano still operating in Russia Energy France
Paccar still active in Russia; deny comments Industrials United States
Pegasus still flying to Russia Industrials Turkey
Pidilite Ind business as usual Materials India
Plastika Kritis Not disclosed publicly Industrials Greece
Poly Real Estate a sister company is Poly Technologies, one of China's largest arms exporters and has been sanctioned by the United States; in Russian tax registry Real Estate China
PowerChina cooperating with a Russian bank "Solidarnost" on off-shore projectes Energy China
Projahn still operating in Russia through a subsidiary Industrials Germany
Provalliance Group (Jean Louis David) affiliates still operating in Russia Consumer Discretionary France
Qatar Airways still flying to Russia Industrials Qatar
Raba maintain commerical ties with Russian Kamaz Industrials Hungary
Rabe Moden still advertising and selling to Russia via Telegram Consumer Discretionary Germany
Raiffeisen Bank International still operating in Russia Financials Austria
Riko still operating in Russa Industrials Slovenia
Riot Games still operating in and selling to Russia Consumer Discretionary United States
Russia Fachspedition Dr. Lassmann still operating in Russia Industrials Austria
SAIC Motor remains operational; plans to increase export Industrials China
Sanatmetal still operating in Russia Health Care Hungary
Sany Heavy Industries business as usual Industrials China
Sarantis still operating in Russia Consumer Staples Greece
Sbarro Pizza still operating in Russia and allowing placing online orders Consumer Discretionary United States
Schoeller Bleckmann still operating in Russia Industrials Austria
Semiconductor Manufacturing International Corporation defies US sanctions by continuting to export to Russia Industrials China
SGS still operating and actively advertising in Russia Industrials Switzerland
Shanghai Fosun Pharmaceutical business as usual Health Care China
Sika still operating in Russia Industrials Switzerland
Société Bic still operating and actively hiring in Russia Consumer Discretionary France
Stada Arzneimittel Business as usual Health Care Germany
State Grid Corporation of China business as usual Utilities China
Storck continue candy sales in Russia Consumer Staples Germany
Stryker continue sales and imports to Russia Health Care United States
Sun Pharma business as usual Health Care India
SWISS KRONO still operating plant in Russia Industrials Switzerland
Syngenta still operating in Russia Health Care China
Sæplast not publically disclosed Industrials Iceland
Tencent major investment in VK Communication Services China
Tenneco still operating in Russia; deny comments Industrials United States
TEPCO continues purchases of Russian gas Utilities Japan
TGI Friday's still operating in Russia Consumer Discretionary United States
The China Coal Transportation and Distribution Association big power plants and about 20 Russian coal companies discussed plans to increase bilateral trade Energy China
Titan International still operating in Russia Industrials United States
TomTom still operating in Russia Information Technology Netherlands
Triumph still operating in Russia Consumer Discretionary Switzerland
Turkish Airlines still flying to Russia Industrials Turkey
UniCredit Still operating in Russia Financials Italy
Valeo still operating in Russia Consumer Discretionary France
Valve still providing services to Russia Consumer Discretionary United States
Vanke business as usual Utilities China
Veolia still operating in Russia Utilities France
Vinci SA still operating in Russia Industrials France
Vivo still operating in Russia Industrials China
Wanhua Chemical Group still operating in Russia Materials China
Wienerberger still operating in Russia Industrials Austria
WIKA still operating in Russia Industrials Germany
Xibao Metallurgy Materials Group building a refractory material plant in Lipetsk, Russia Industrials China
Zimmer Biomet continues sales in Russia Health Care United States
ZTE business as usual Communication Services China
Zwack Not disclosed publicly Consumer Staples Hungary

Buying Time

Holding Off New Investments/Development (155 Companies) (Grade: D)

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

Name Action Industry Country
Abbott Laboratories suspend non-essential business activity Health Care United States
Abbvie suspend aesthetics operations, pause new clinical trials Health Care United States
Accor suspend new investments/development Consumer Discretionary France
Accumalux still operating plant in Togliatti, Russia Industrials Luxembourg
Aegon ending new investments where has control over fund Financials Netherlands
Air Liquide Some clients no longer supplied, others scaled down; all Russian investments on hold Materials France
Airbus suspend supply of parts and deliveries/servicing, t but continue substantial titanium purchases from Russia Industrials Netherlands
Akrapovič still operating in Russia Consumer Discretionary Slovenia
Alcon suspend new investments and new clinical trial enrollment in Russia Health Care Switzerland
AmerisourceBergen cease new business initiatives but continue existing clinical trials, and distributing health products Health Care United States
Andbank investigate if Russian customers are subject to European sanctions Financials Andorra
Andritz suspend unspecified new business in Russia for time being Industrials Austria
Anecoop diverting sales away from Russia Consumer Staples Spain
Archer Daniels Midland (ADM) unspecified scaling down of non-essential operations Consumer Staples United States
Arconic pause new contracts but continue existing Materials United States
AstraZeneca halt new investments/new clinical trials Health Care United Kingdom
Aviva suspend new Russian investments Financials United Kingdom
Baker Hughes paused new investments/development Energy United States
Bang & Bonsomer suspend new investments but still operating in Russia Industrials Finland
Barilla all new investments and advertising activities on hold; limit Russia production to pasta and bread Consumer Staples Italy
Barry Callebaut suspend capital investment Consumer Staples Switzerland
Bayer stopping unspecified non-essential business activity Health Care Germany
Binance restrict Russian accounts with over €10,000 Financials China
BlaBlaCar Stopped new investment but stays in Russia Information Technology France
Boiron suspend new investments & stop clinical trials Health Care France
Bolt remove all Russia-manufactured and Russian-branded goods Information Technology Estonia
Calfrac Well Services suspension of new investments in Russia Energy Canada
Campari continue sales in Russia but suspend new investments Consumer Discretionary Italy
CAPRI Holdings (Versace, Michael Kors, Jimmy Cho) online orders unavailable but still advertising; no information about on-site sales Consumer Discretionary United States
Cargill unspecified scaling down of non-essential operations Consumer Staples United States
Carmim suspend some orders in backlog Consumer Staples Portugal
Citadele Banka still allows transactions to Russia but introduced more thorough checks Financials Latvia
Colgate-Palmolive continue essential health and hygiene products Consumer Staples United States
Corticeira Amorim commerical activity suspended Consumer Discretionary Portugal
Crèdit Andorrà investigate if Russian customers are subject to European sanctions Financials Andorra
Danone suspend all investment projects but continue dairy products; suspend imports of Evian and Alpro products Consumer Staples France
Deceuninck stop investments & cut links with other establishments Industrials Belgium
Delonghi paused new shipments and investments Consumer Discretionary Italy
DMK Group suspend new investments/advertising but continue sales and plant operations in Russia Consumer Staples Germany
Domino's Pizza suspend royalty payments & limit investment – restaurants remain open Consumer Discretionary United States
dōTERRA suspend new investment in Russia Consumer Staples United States
Dr. Theiss suspend advertisement Health Care Germany
Ecco suspend new investments still operating in Russia Consumer Discretionary Denmark
Eesti Gaas continues to import Russian gas but is looking for alternatives Energy Estonia
Ehrmann continue sales in Russia but suspend new investments Consumer Staples Germany
Ekosem Agrar AG restructuring finances Consumer Staples Germany
Eli Lilly suspend new investments and clinical trials Health Care United States
Engie no new investments Utilities France
ESL ban people with ties to Russian government Utilities Germany
FL Smidth no new business Industrials Denmark
FM Global stopped renewing and underwriting new reinsurance Financials United States
Focus Brands - Cinnabon no new investments and expansion plans on hold Industrials United States
GEA Group suspend new investments Industrials Germany
Geox suspend new investments Consumer Discretionary Italy
GlaxoSmithKline stopped advertising/new clinical trials in Russia Health Care United Kingdom
Glencore stop entering into new Russian commodities trading contracts but continue holding substantive Russian equity stakes Materials Switzerland
Greif canceled future investments in Russia Materials United States
GROUPE LIMAGRAIN/JACQUET-BROSSARD continues flows to Russian and Ukrainian producers but suspends its project to build a seed factory in Russia Industrials France
Groupe Seb suspend new investments and "sharply" reduce activities in Russia Consumer Discretionary France
Gruma halt new investments in Russia Consumer Staples Mexico
GXO Logistics suspend new investments Industrials United States
Hellenic Bank maintain rep offices in Russia; observe all banking sactions Financials Cyprus
Hellenic Petroleum seeks new oil supplier to replace Russian oil Energy Greece
HERZ no new business in Russia Consumer Discretionary Austria
Hilton suspend new investments/close corporate office Consumer Discretionary United States
Hines suspend new investments in Russia Industrials United States
HiPP suspend investments in Russia but continue substantive operations Consumer Staples Switzerland
Hochland suspend investments but continues sales and plant operations in Russia Consumer Staples Germany
HSBC curtail Russian access to capital markets and limit new business Financials United Kingdom
Huawei suspend new orders and furlough some staff Information Technology China
Hyatt suspend investments and new developments Consumer Discretionary United States
Icosagen not start any new projects Industrials Estonia
ID Logistics suspend new investment in Russia Industrials France
Idexx Labs suspend minor operations and new investments Health Care United States
ING Bank pause all new business Financials Netherlands
Ingram Micro no new business in Russia Information Technology United States
Intercontinental Hotels ended new investments/closed corporate office Consumer Discretionary United Kingdom
Intermedia move some employees out of Russia and ambiguous reduction of risk exposure to Russia Information Technology United States
Intesa Sanpaolo suspend new investments and curtail new financing Financials Italy
J. Neves & Fihos (JNF) paused distribution Industrials Portugal
Japan Tobacco stopped new investments and marketing activities in Russia Consumer Staples Japan
Johnson & Johnson pause patient enrollment in ongoing trials Health Care United States
Julius Baer suspend new business in Russia and reduce current exposure Financials Switzerland
KCA Deutag suspend investments Energy United Kingdom
KDDI Corp continue operations with local staff Communication Services Japan
Kimberly-Clark suspend new investments in Russia Consumer Staples United States
Knauf still operating across 14 sites in Russia but suspend new investments Materials Germany
Kraft Heinz - JBS stopped new investments and exports/imports from Russia Industrials United States
Kubíček VHS Stopped cooperation Industrials Czech Republic
Laboratoire Servier suspending new investments but still operating in Russia Health Care France
Lamb Weston halted the export of products to/from Russia and suspended investments in new production Industrials United States
Lenovo reported to suspend operations in Russia Information Technology Hong Kong
Lotos ready to stop spot purchases of Russian oil Energy Poland
Loulis Mills search for alternative suppliers Consumer Staples Greece
Maire Tecnimonet suspended commercial activities; managing existing backlog Industrials Italy
Manitowoc stopped taking new orders, still maintaining office in Russia Industrials United States
Marel paused new projects Consumer Staples Iceland
Marriott suspend new investment/close corp. office Consumer Discretionary United States
Mavenir continue operating in Russia but very limited curtailment of some activities
Melamin making up for shortfall from sanctions Materials Slovenia
Merck no further investments/clinical trial enrollment Health Care United States
Mocapor paused exports Industrials Portugal
Mohawk Industries suspend new investments in Russia Consumer Discretionary United States
Mondelez - Nabisco scaling back unspecified non-essential activities in Russia Industrials United States
National Oilwell Varco suspend all new investments in Russia Energy United States
Nature's Sunshine suspend shipments into Russia but not sales Consumer Staples United States
Naust Marine stopped projects in Russia Industrials Iceland
Nestle halted non-essential imports/exports to Russia, stopped all advertising, and suspended all capital investment Consumer Staples Switzerland
Nippon Steel searching to replace Russian supplies Industrials Japan
Novartis pause all new capital investments, media advertising and other promotions; pause new clinical trials and enrollment of new patients Health Care Switzerland
NTPC difficulty in transacting with Russian counterparties due to SWIFT issues etc Utilities India
Olam Group ceased imports into Russia Consumer Staples Singapore
OMV no new Russian investments; doing strategic review of current Russian gas investments Energy Austria
Palfinger reduced production Industrials Austria
Pfizer stopped new investments/clinical trials in Russia Health Care United States
Philips most operations continue, ended some consumer products Health Care Netherlands
Polpharma stop all new investments and limit deliveries to essential drugs only Health Care Poland
Pottinger limited deliveries to Russia sales subsidiary Industrials Austria
Procter & Gamble scale back unspecified operations in Russia and stop new investments Consumer Staples United States
Red Bull suspend new investments Consumer Staples Austria
RHI Magnesita selling down existing stocks in Russia Industrials Austria
Ritter Sport halt new investments and advertising Consumer Staples Germany
Roche pause new site activation and patient enrollment; continue operating Health Care Switzerland
Rockwool cancel new investments in Russia Industrials Denmark
Saipem halt new investments Energy Italy
Sanofi halting advertising and promotional spending and new recruitment of patients clinical trials, continue medical supply and treating current patients Health Care France
Sarens new projects cancelled Industrials Belgium
SC Johnson stopped new investments and scaled back unspecified operations Consumer Staples United States
Schlumberger stopped new investment and technology deployment to our Russia operations Energy United States
SCHOTT suspend investments in Russia Materials Germany
Siemens Energy AG (Independent) freeze new business in Russia Industrials Germany
Sigma Group Stopped cooperation Industrials Czech Republic
Signify suspend only exports to Russia and investments and new business Consumer Discretionary Netherlands
Soudal cancel investments in a brand new factory in Russia; but maintain other activities Materials Belgium
SRV outline steps to stop procurement of building materials from Russia Materials Finland
Subway suspend new investments/advertising Consumer Staples United States
Sumitomo Mitsui Financial continue operations with local staff Financials Japan
Technip Energies continuing existing projects; no new business Energy France
TOM Tailor no official statement; online sales suspended but advertising continues Consumer Discretionary Germany
Toshiba Group stop all new investments in Russia Information Technology Japan
Toshulin Stopped cooperation Industrials Czech Republic
Toyota Tsusho Stopped exports and imports of auto parts to and from Russia Materials Japan
Trafigura froze investments in Russia Energy Singapore
TZMO stopped new investments Consumer Staples Poland
Unilever stopped inports/exports and stopped all advertising and investments Consumer Staples United Kingdom
UnionPay Suspended issuing bank cards to Russian Banks Financials China
Vestas continue operations but no new contracts Energy Denmark
Vimeo not accept new customers from Russia Utilities United States
Wear Medicine online store shut down; no information about on-site sales Consumer Discretionary Poland
Weatherford International suspend new investments/deployments in Russia Energy United States
Welltec suspend all new investments in Russia Energy Denmark
Wintershall Dea AG maintain Russian natural gas projects and critical infrastructure; write-off Nord Stream2 loans Energy Germany
Xiaomi reported to suspend operations in Russia Information Technology China
Young Living suspend new investments in Russia Consumer Staples United States
Yves Rocher suspend new investments/development Consumer Staples France

Scaling Back

Reducing Current Operations (141 Companies) (Grade: C)

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

Name Action Industry Country
ABB temporarily pausing all new orders and operational activity Industrials Switzerland
Activision Blizzard suspend new sales of and in our games in Russia Communication Services United States
Adobe suspend all new sales in Russia and Belarus; current services continue Information Technology United States
AGCO stop sale of new machines to Russia Industrials United States
AkzoNobel suspend new investments in Russia; end Aerospace work Materials Netherlands
Allianz meaningfully reduce exposure to Russia Financials Germany
Amadeus IT Group suspend partnership with Aeroflot Information Technology Spain
AmRest suspend operations with some brands in Russia Consumer Staples Spain
ASBIS amends contracts following new sanctions Information Technology Cyprus
Aspo reducing operations in Russia Financials Finland
Bacardi paused exports to Russia but not domestic operations Consumer Staples Bermuda
Bank of Cyprus maintain loan book; observe banking sanctions Financials Cyprus
Beiersdorf maintain skin and bodycare products; stop other products Consumer Staples Germany
Black Red White divesting from Russian subsidiary, still has a significant stake in a company operating in Belarus, which also suspended Russian exports Consumer Discretionary Poland
BNY Mellon suspend new business activity and investments; continue cooperation with current clients Financials United States
Boehringer Ingelheim scale back to just supplying medicine Health Care Germany
Bosch suspend some shipments and plants but not all Industrials Germany
Boston Scientific suspend all new investment and non-essential activity Health Care United States
Bucher Industries not specified business activities in Russia were reduced "substantially" Industrials Switzerland
Bunge suspend exports but continue certain domestic Consumer Staples United States
Bureau Veritas scaled back Industrials France
Carter's | Oshkosh stop all shipments of merchandise to Russia Consumer Discretionary United States
Caterpillar suspend minor Russian manufacturing facilities but not import sales Industrials United States
CHR Hansen suspend operations outside of staple food products Industrials Denmark
Coca-Cola suspend certain operations in Russia but continue to operate some chains (Costa Coffee) Consumer Staples United States
Coinbase block certain illicit Russian accounts but not all Financials United States
Confor Step Stopped producing or shipping to Russia Consumer Discretionary Portugal
Continental resumed local production after having previously suspended Russian factory Consumer Discretionary Germany
Corning suspend almost all sales in Russia except minor life-saving products Information Technology United States
Credit Suisse stop new business in Russia while meaningfully cutting exposure by 56% Financials Switzerland
Danske Bank ban Russian investments in customers' portfolios Financials Denmark
DB Schenker suspend direct shipments to Russia; continue Europe to Kazakhstan and Russia to Kazakhstan routes Industrials Germany
Deere suspend shipments into Russia only Industrials United States
Discord suspend renewal of paid and premium products and services for Russian clients; free services still available Communication Services United States
Dover Corporation ramping down sales activity and focusing on liquidating working capital Industrials United States
Dow suspend investments/some purchases but not all Materials United States
Eaton stop shipments to Russia; maintains services Energy United States
Eimskip reduced operation in Russia Industrials Iceland
Elanco scale back to critical products to ensure food security Health Care United States
Elsevier suspended all sales except essential health products Communication Services Netherlands
Emerson Electric Stops Emerson Business, still operating through Metran Industrials United States
Enel suspend current investments; working to divest current assets Utilities Italy
Epic Games stop in-game commerce for Russia Consumer Discretionary United States
FANUC stopped shipments and limited service Information Technology Japan
Ferrero suspend non-essential business activity Consumer Staples Italy
Fieldfisher terminate certain Russian relationships Industrials United Kingdom
FIGMA continue current business & stop all new sales efforts in Russia Information Technology United States
Fortive suspend most operations except medical essentials Industrials United States
GE stopped sales in Russia and Belarus except medical equipment and support for electric power generation and transmission Industrials United States
General Mills suspended sales of global brands in its JV Consumer Staples United States
Georg Fischer temporary suspension of deliveries to Russia Industrials Switzerland
Goldman Sachs wind down business in Russia but buy Russian debt Financials United States
Groupe BPCE suspend many transactions and cease new financing Financials France
Halliburton suspend future business in Russia and wind down current Energy United States
Hellenic Bottling Company vaguely suspend some operations in Russia Consumer Staples Greece
Herbalife suspend sales and shipments to Russia but independent sellers remain operational Consumer Staples United States
HILTI limiting sales and workforce in Russia Industrials Liechtenstein
Hostinger stop accepting payments for new purchases and renewals Information Technology Lithuania
Idemitsu Kosan stop coal imports; lubricants business unchanged Energy Japan
IndusInd Bank can no longer clear rupee rouble conversions Financials India
Ingersoll Rand scale back to only health critical services Industrials United States
Ingka stop all exports, IKEA production; keep open retail centers (Mega) Consumer Discretionary Netherlands
Inspire Brands (Dunkin' Donuts, Baskin Robins) halt corporate support for franchisees Consumer Discretionary United States
International Biathlon Union Russians to compete as neutral athletes NGO Austria
IPG Photonics suspend new investments and reduce manufacturing in Russia Information Technology United States
Iskratel paused some business with Russia Communication Services Slovenia
Iveco suspend deliveries to Russia; truck JV still in operations Industrials Italy
J&T Finance Group curb its activities in Russia Financials Slovakia
JPMorgan wind down business in Russia but buy Russian debt Financials United States
Kellogg suspend new investments except essentials (minor) Consumer Staples United States
Kotak Mahindra paused transaction through cards in Russia Financials India
Legal & General reduce exposure Financials United Kingdom
Linde divest certain industrial assets and suspend new development/investments Materials Germany
Loyalty Ventures scaled back most services and stopped new sales Information Technology United States
Luxottica restrict Russian operations to medical services Consumer Discretionary Italy
LyondellBasell end all business with state-controlled entities Materials Netherlands
Mars scale back business and stopped advertising/new investments/exports in Russia Consumer Staples United States
Marubeni scaling down but still in numerous projects across Russia Industrials Japan
Maruti Suzuki suspend car exports Industrials India
Mashreqbank halt loans to Russia Financials United Arab Emirates
Microsoft suspend new sales in Russia but continue existing access Information Technology United States
Miele suspend operations except exempt healthcare Consumer Discretionary Germany
Milliken & Co still operating in Russia Materials United States
Miro close office in Moscow & pause new sales Information Technology Netherlands
Mitsubishi UFJ Financial Group Japanese expats working for MUFG Bank (Eurasia) have moved out of Russia to work outside of the country on a temporary basis Financials Japan
Nalco Water (Ecolab) suspended services except services critical to health Industrials United States
Natura suspend some subsidiary operations but not all Consumer Staples United States
NielsenIQ suspend consulting service but not core business Industrials United States
Nokian Tyres meaningfully reduce production in Russia Consumer Discretionary Finland
Nordea Bank stop processing payments to and from Russia & Belarus Financials Finland
Norsk Hydro reduced deliveries and supplies to the contractual minimum for some commitments, and is suspending deliveries and supply in several contracts Materials Norway
Novo Nordisk continue some operations Health Care Denmark
Oriflame Cosmetics suspend online sales to end consumers but not others Consumer Staples Switzerland
Orion stop exports to Russia Health Care Finland
Orsted end coal and biomass purchases, refuse to pay for gas in roubles Energy Denmark
Otis Worldwide exploring options for exit; while no new investments/new contracts but fulfill existing agreements Industrials United States
OTP Bank wind down corporate lending Financials Hungary
Paul Wurth stopped new business, closed sites, and scaled back serviceds Industrials Luxembourg
Pepsi suspend operations in Russia except essentials Consumer Staples United States
Phibro Animal Health Corp curtail some operations (i.e. ethanol) and substantial sales hit Health Care United States
Philip Morris explore strategic alternatives, while stop new investments including $150MM, paused marketing, canceled product launches Consumer Staples United States
Pirelli suspend new investments in Russia and scale back production Consumer Discretionary Italy
PKN Orlen SA stopped maritime oil shipments, diversifying supply Energy Poland
Playtika temporarily block new downloads games in Russia Information Technology Israel
PPG scale back majority of operations and suspend new investments in Russia Materials United States
Rosenbauer no new business; continue servicing fire engine pumps in Russian JV Industrials Austria
Royal DSM stopped all operations in Russia other than basic food/feed/essential health activities Materials Netherlands
Sabre suspend certain partnerships with Aeroflot Information Technology United States
Saint-Gobain suspend exports and imports but not local operations Industrials France
SAP stop all sales to Russia and shut down cloud operations but some carveouts Information Technology Germany
SBI stopped processing transactions of sanctioned Russian entities Financials India
Schaeffler stop deliveries to Russia; continue manufacturing in Russia Industrials Germany
Scopely suspend marketing and commerce Utilities United States
SEB scaling down operations in Russia Financials Sweden
SHV suspend new investments, new projects, new exports; continue to work with suppliers and customers in Russia Energy Netherlands
Sinopec suspend $500MM new investment and significant operations and partnerships Energy China
Skadden suspend certain operations in Russia but not all Industrials United States
Sketchers suspended shipments to Russia but online sales continue Consumer Discretionary United States
Tchibo suspend coffee deliveries but not other lines Consumer Staples Germany
Tennant substantially suspending sales to Russia Consumer Discretionary United States
Terex Corporation stop accepting new orders from continuing dealer network in Russia Industrials United States
Tetra Pak stopped new investments and scaled down activities Industrials Sweden
ThyssenKrupp Stopped new business and investments. Closed plant Materials Germany
Tikkurila reduce Russian operations; stop sales to aerospace Materials Finland
Tokio Marine suspend new contracts and repatriate employees Financials Japan
Total Energies no longer will provide capital for new projects in Russia/stop purchasing Russian oil Energy France
Triglav Group not renewing or entering into new business Financials Slovenia
Tungsram stopped producing products and projects Utilities Hungary
U.S. Polo Assn. stopped all shipments of goods into Russia and shut down all branded digital operations but phased approach to closing physical stores Consumer Discretionary United States
UBS suspend new business in Russia and reduce current exposure by helping clients unwind Russia securities; reducing Russian client services Financials Switzerland
Uniper SE suspend new Russian gas purchases/divest Unipro Utilities Germany
Valentino suspend online sales; no information about on-site sales Consumer Discretionary Italy
Vattenfall shifting energy purchases away from Russia Utilities Sweden
Wartsila suspend all deliveries and new sales to Russia; continue ongoing projects Industrials Finland
Westinghouse Air Brake Technologies Corp stopped sales to Russia Industrials United States
Whirlpool limiting production in Russia Consumer Discretionary United States
Wilo stop shipments to and from Russia; no comment about production in Russia Industrials Germany
Wolters Kluwer scale back to just health products in Russia Financials Netherlands
Yum Brands suspend operations of company-owned restaurants and new investments in Russia Consumer Discretionary United States
ZF Friedrichshafen stop all deliveries to Russia; maintain JVs Industrials Germany
Zoetis suspend investments & focus on supply of medicines and vaccines Health Care United States

Suspension

Keeping Options Open for Return (451 Companies) (Grade: B)

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

Name Action Industry Country
3M suspend operations in Russia Industrials United States
AAK halted delivery and sales Consumer Staples Sweden
AB InBev sold stake in Efes Consumer Staples Belgium
Abrdn suspend investments in Russia and reduce exposure Financials United Kingdom
ACCA suspend operations in Russia and Belarus Industrials United Kingdom
Acer suspend its business in Russia Information Technology Taiwan
Acne Studios put all Russian activities on hold Consumer Discretionary Sweden
Adidas suspend operations in Russia Consumer Discretionary Germany
ADP suspend sales/services to Russia Information Technology United States
AICPA suspend sale and delivery of services indefinitely Industrials United States
Air Astana suspend flights to Russia Consumer Discretionary Kazakhstan
Air Malta suspend all flights to and from Russia Industrials Malta
Airbnb block bookings and block accepting guests in Russia Consumer Discretionary United States
Akamai suspend sales in Russia Information Technology United States
Akin Gump suspend operations in Russia Industrials United States
AL-KO Vehicle Technology suspend deliveries to Russia and Belarus Industrials Germany
Alaska Airlines temporarily suspend partnership with Russian airline Industrials United States
Alimentation Couche-Tard suspend operations Consumer Staples Canada
Alphabet suspend all operations in Russia Communication Services United States
Alstom suspend shipments to Russia Industrials France
AM Best suspend all commercial activities to Russian clients Information Technology United States
Amazon suspend operations in Russia Consumer Discretionary United States
Ambarella suspend shipments into Russia Information Technology United States
AMD suspend all sales to Russia Information Technology United States
Amer Sports suspend all commercial activities in Russia Consumer Discretionary Finland
American Airlines pause agreements with Russian airlines Industrials United States
American Express suspend operations in Russia Financials United States
Amica suspended Russian exports Consumer Discretionary Poland
Amway suspend operations in Russia Consumer Staples United States
Analog Devices suspend sales to Russia according to sanctions Industrials United States
Ansys suspend all sales and business activity Information Technology United States
Aon PLC suspend operations in Russia Financials United Kingdom
Apple suspend all sales Information Technology United States
Arla suspends all operations Consumer Staples Denmark
ARM suspend shipments according to sanctions Information Technology United Kingdom
Asian Infrastructure Investment Bank curtail Russian access to capital markets Financials China
Asos suspend all shipments to Russia Consumer Discretionary United Kingdom
Association of International Certified Professional Accountants indefinite suspension of services within Russia Industrials United States
Aston Martin suspend all shipments to Russia Consumer Discretionary United Kingdom
Asus suspend shipments to Russia Information Technology Taiwan
Atlas Copco suspend deliveries in Russia Industrials Sweden
Atlassian suspend software sales to Russia Information Technology Australia
Audi suspend operations at Kaluga assembly plant Consumer Discretionary Germany
Authentic Brands Group - Reebok successfully completed suspension of all operations Industrials United States
Autodesk suspend operations in Russia Information Technology United States
Avast suspend all operations in Russia Information Technology Czech Republic
AXA stop underwriting new insurance & stop renewals Financials France
AXA Investments Managers pause investments & prohibit new subscriptions Financials France
Azerbaijan Airlines suspend flights to Russia Industrials Azerbaijan
B Lab suspend Russian companies from obtaining certifications NGO United States
Badminton World Federation cancel all tournaments NGO Malaysia
Bain suspend consulting for all Russian businesses Industrials United States
Bang & Olufsen suspended deliveries and sales to Russia Consumer Discretionary Denmark
Bank of China curtail Russian access to capital markets Financials China
BCG suspend operations; Moscow office open Industrials United States
Bentley suspend all shipments to Russia Information Technology United States
Bentley Systems pause sales to Russia & Belarus Information Technology United States
Big Fish Games suspend downloadable game business in Russia Communication Services United States
Bitdefender suspend all sales to Russia Information Technology Romania
BlackBerry cease all activities in Russia Information Technology Canada
BMC suspend all business with Russia & Belarus Information Technology United States
BMW suspend exports to and production in Russia Consumer Discretionary Germany
BNP Paribas suspend new business in Russia/curtail financing Financials France
Boeing suspend operations in Russia/titanium purchases Industrials United States
Bombardier restrict Russian business Industrials Canada
Boohoo Group suspend all shipments to Russia Consumer Discretionary United Kingdom
Booking suspend bookings in Russia Consumer Discretionary United States
Boosteroid Cloud Gaming suspend services to Russia Information Technology United Arab Emirates
Boryszew suspended operations in Russia Materials Poland
Brav suspend sales and operations in Russia Consumer Discretionary Norway
Bridgestone Tire suspend manufacturing in Russia and shipments into Industrials Japan
Brown-Forman suspend commercial operations in Russia Consumer Staples United States
BUDVAR Centrum Sp. z.o.o. Industrials Poland
Budweiser Budvar suspends production and supply of beer Consumer Staples Czech Republic
Bulgaria Air suspend flights to Russia Industrials Bulagria
Bulgarian Postbank stop operations in Russian ruble Financials Bulgaria
Burberry suspend all shipments to Russia Consumer Discretionary United Kingdom
Burger King (Restaurant Brands) halt corporate support for franchises Consumer Staples United States
Buta Airways suspend flights to Russia Industrials Azerbaijan
Canada Goose suspend all shipments to Russia Consumer Discretionary Canada
Canadian Tire close Russia stores Consumer Discretionary Canada
Canon suspend deliveries in Russia Information Technology Japan
Canonical suspend support & professional services Information Technology United Kingdom
Capgemini stop services to Russia Information Technology France
Cargolux suspend all shipments into and through Russia Industrials Luxembourg
Cargotec stop all sales to Russia & Belarus Industrials Finland
CBRE discontinue Russian business Real Estate United States
CCC suspends operations in Russia (delivery to Russia, further expansion) Information Technology Poland
CD Projekt suspends sales of products in Russia & Belarus Communication Services Poland
CERN suspend Russia's obeserver status; halt new collaborations NGO Switzerland
Chanel suspend all operations in Russia Consumer Discretionary France
Chevron Pausing all transactions and sales of refining products, lubricants, and chemicals Energy United States
Chipperfield suspend operations in Russia Industrials United Kingdom
Cie Automotives temporarily shut down aluminum plant Consumer Discretionary Spain
Ciena suspend business operations in Russia Information Technology United States
Cisco suspend all operations in Russia Information Technology United States
Citi expand the scope of the exit process Financials United States
Citrix suspend all sales to Russia Information Technology United States
Cleary Gottlieb suspend Russian operations Industrials United States
Clorox suspend business activity in Russia Consumer Staples United States
Clutch suspend all business activity Industrials United States
CMA CGM suspend all shipments to Russia Industrials France
CME Group suspend acceptance of certain Russian commodities Financials United States
CNH Industrial suspend sales to Russia Industrials United Kingdom
Cogent Communications cut all internet to Russia Communication Services United States
Commerzbank suspend operations in Russia Financials Germany
Conde Nast suspend all publishing operations Utilities United States
Conformis suspend distribution operations in Russia Health Care United States
Costco stopped purchases from Russia Consumer Discretionary United States
Coupa suspend operations in Russia Information Technology United States
Coursera platform available; refrain from financial benefits from the region; suspend some content Consumer Discretionary United States
Credit Agricole suspend all services in Russia Financials France
Crocs suspend D2C business Consumer Discretionary United States
Cyprus Airways suspend flights to Russia Industrials Cyprus
d&b audiotechnik suspend all shipments to Russia Consumer Discretionary Germany
DACHSER suspend deliveries to Russia Utilities Germany
Daimler Truck freeze activities in Russia Consumer Discretionary Germany
Damen stop supplying ships to Russia, halt new contracts Industrials Netherlands
Danaher suspended shipments to Russia except for humanitarian medical products Industrials United States
Dassault Aviation suspend all shipments to Russia Industrials France
Dassault Systèmes suspend business operations in Russia Information Technology France
Debevoise & Plimpton suspend operations in Russia Industrials United States
Decathlon suspend the operation of its stores in Russia Consumer Discretionary France
Deckers suspend business in Russia Consumer Discretionary United States
Dell suspend all shipments to Russia Information Technology United States
Denso suspend all shipments into Russia Industrials Japan
Depositphotos stop all sales and services to Russia Utilities Ukraine
Deutsche Bank wind down business in Russia Financials Germany
DHL suspend all shipments to Russia Industrials Germany
Diageo suspend all shipments to Russia Consumer Staples United Kingdom
Diebold Nixdorf suspend shipments and sales of any kind into Russia. Information Technology United States
DirecTV cut Kremlin backed TV networks Communication Services United States
Discover suspend efforts to establish Russian presence Communication Services United States
Disney pause new content releases Communication Services United States
DKV Mobility stop all activity for Russian domestic business Information Technology Germany
DPD suspend shipments to Russia Industrials Germany
DSV A/S suspend all shipments to Russia Industrials Denmark
DuPont suspend operations in Russia and Belarus Materials United States
EDF suspend Moscow office Utilities France
eDreams ODIGEO cease all operations involving Russia Consumer Discretionary Spain
Edrington suspend all shipments to Russia Consumer Staples United Kingdom
Egon Zehnder stop operations in Russia Industrials United States
Electrolux suspending all shipments into Russia Consumer Discretionary Sweden
Elopak suspends all activities Materials Norway
Embraer suspend supplying parts and services to Russia Industrials Brazil
Epiroc pause all deliveries to Russia and no operations domestically Consumer Staples Sweden
Eppendorf SE suspend exports to Russia; keep rep office open Health Care Germany
Epson suspend exports to Russia & Belarus Consumer Discretionary Japan
Equinix suspend Russian partnerships and customers Real Estate United States
Ericsson suspend all shipments to Russia Information Technology Sweden
ESET suspend all sales to Russia Information Technology Slovakia
Estee Lauder suspend operations in Russia Consumer Staples United States
European University Association cease cooperation with governmental agencies in Russia NGO Belgium
Exiger halting all activity and due diligence in Russia Information Technology United States
Exor holding company's assets are suspending operations Financials Netherlands
FedEx suspend all shipments to Russia Industrials United States
Ferrari suspend sales in Russia Consumer Discretionary Italy
FIDE suspend Russian & Belarussian teams from participation in tournaments NGO Switzerland
Finnlines suspend all traffic to Russia Industrials Finnland
Fiverr suspend business Consumer Discretionary Israel
Ford suspend joint ventures in Russia Consumer Discretionary United States
Foster + Partners stop work on projects in Russia Industrials United Kingdom
Fugro suspend all projects in Russia Energy Netherlands
Fujitsu cease orders and shipments to Russia Consumer Discretionary Japan
Galp suspend Russian oil-product purchases; eliminate Russian exposure Energy Portugal
Ganni freeze all trade with Russia Consumer Discretionary Denmark
Gap Inc stopped shipments to franchisees in Russia Consumer Discretionary United States
Garmin stop all future trade with Russia Information Technology United States
Geberit discontinue all operations in Russia but continue to pay employees Industrials Switzerland
Gestamp stopped production Consumer Discretionary Spain
GetYourGuide suspend all Russian operations Consumer Discretionary Switzerland
GM suspend all shipments to Russia Consumer Discretionary United States
Goodyear suspend shipments of tires to Russia Consumer Discretionary United States
Graphisoft suspended new activities, disabled access to our commercial services in Russia Information Technology Hungary
Grundfos suspend all operations and sales in Russia Industrials Denmark
Grupo Antolín suspend operations in Russia Consumer Discretionary Spain
Grupo Bimbo Suspended distribution of the Bimbo Brand at retail, but left Moscow Bimbo QSR plant operating for food service products Consumer Staples Mexico
H&M suspend all shipments to Russia Consumer Discretionary Sweden
Hannover Re halt underwriting business Utilities Germany
Hapag Lloyd suspend all shipments to Russia Industrials Germany
HARIBO suspend production to Russia Consumer Staples Germany
Harley-Davidson suspending all business in Russia Consumer Discretionary United States
Hasbro pause toy shipments o Russia Consumer Discretionary United States
Hermes suspend all operations in Russia Consumer Discretionary France
Herzog & de Meuron suspend work on Russian projects Industrials Switzerland
Hexagon freeze all business activities Information Technology Sweden
HHLA suspend entry of Russian shipments at owned ports Financials Germany
Hitachi Construction suspend all shipments to Russia Industrials Japan
HMM suspend all shipments to Russia Industrials South Korea
Honda suspend all shipments to Russia Consumer Discretionary Japan
Honey Group suspend sales to Russia Consumer Staples Finland
Honeywell suspend virtually all sales in Russia Industrials United States
HP Enterprise (Independent from HP Inc.) suspend all shipments to Russia Industrials United States
HP Inc. suspend all shipments to Russia Information Technology United States
Hugo Boss temporarily close stores and e-commerce sites Consumer Discretionary Germany
Hunkemoller suspend operations of on-site and online stores Consumer Discretionary Netherlands
Husqvarna stop exports to Russia & halt investments Consumer Discretionary Sweden
Hyundai suspend manufacturing in Russia Consumer Discretionary South Korea
Iberia canceling flights to Russia Industrials Spain
IBM suspend technology sales to Russia on Feb 24 Information Technology United States
ICBC curtail Russian access to capital markets Financials China
Icecat suspends activities for the Russian market Industrials Netherlands
Ikea suspend all operations in Russia Consumer Discretionary Sweden
Illinois Tool Works suspension of sales to Russia Industrials United States
Indeed suspend service in Russia Information Technology United States
Inditex close Russian stores and suspend sales Consumer Discretionary Spain
Institute of Internal Auditors suspend business in Russia Industrials United States
Intel suspend sales to Russia Information Technology United States
Interactive Advertising Bureau suspend licensing in Russia and Belearus Industrials United States
Intercomm Foods Stopping shipments to Russia Consumer Staples Greece
International Canoe Federation suspend Russian athletes & relocate Russian events NGO Switzerland
International Federation of Sport Climbing suspend Russian teams from participation; supend Russian events NGO Italy
International Paralympic Committee bar Russian atheletes NGO Germany
Intertek suspend operations Industrials United States
Intuit suspend customer accounts Information Technology United States
Jablotron halts sales and blocks data services to products assempled in Russia Consumer Discretionary Czech Republic
JCB suspend operations in Russia Financials Japan
JCB pause business in Russia Industrials United Kingdom
JD Sports suspend operations in Russia Consumer Discretionary United Kingdom
Johnson Controls suspend operations in Russia Industrials Ireland
Julipedra suspended exports to Russia Materials Portugal
Jungheinrich keep Russia office; stop exports to Russia Industrials Germany
Juniper Networks suspend sales in Russia Information Technology United States
Kärcher suspend exports to Russia & halt investments Consumer Discretionary Germany
KBC Group suspend transactions with certain Russian banks Financials Belgium
Kepenou Mills stop wheat orders from Russia Consumer Staples Greece
Kering close all stores in Russia Consumer Discretionary France
Kerry Group suspending operations Consumer Staples Ireland
KGHM suspended Russian contracts, subsidiary ZANAM Vostok in Russia Materials Poland
Kingston suspend shipments to Russia Information Technology United States
Knight Frank suspend substantive operations in Russia Real Estate United Kingdom
Kodak Alaris suspend all business activity into Russia & Belarus Information Technology United Kingdom
Komatsu suspend all shipments to Russia Industrials Japan
KONE suspend deliveries to Russia & stop new Russian orders Industrials Finland
Konica Minolta new shipments suspended Consumer Discretionary Japan
Körber suspend new business with Russia Industrials Germany
Korn Ferry suspend business in Russia Financials United States
KUKA suspend all business with Russia Industrials Germany
Kurokesu suspend shippments to Russia Consumer Discretionary Lithuania
Kyocera suspend deliveries of all devices to Russia Information Technology Japan
L'Occitane close all stores and e-commerce site in Russia Consumer Discretionary France
L'Oreal suspend operations in Russia Consumer Discretionary France
La Lorraine halt its 50mn euro investment in Moscow Consumer Staples Belgium
Lanxess suspend business activities with Russia Materials Germany
LCBO suspend Russian-produced products Consumer Staples Canada
Lego suspend all shipments to Russia Consumer Discretionary Denmark
Leica Camera AG suspend operations in Russia Financials Germany
Leonardo pause all JVs in Russia; helicopter production Industrials Italy
Les Ballets de Monte-Carlo suspend performance rights for his ballet Consumer Discretionary Monaco
Levi Strauss suspend all sales in Russia Consumer Discretionary United States
Lexmark suspend shipments to Russia Information Technology United States
LG Electronics suspend all shipments to Russia Consumer Discretionary South Korea
Lindt-Sprungli suspend operations in Russia Consumer Staples Switzerland
Little Caesar's suspend Russian franchise support Consumer Discretionary United States
Lladró suspended service and shipment to Russia. No new requests Consumer Discretionary Spain
Logitech suspend shipments to Russia Information Technology Switzerland
Louis Dreyfus suspend operations in Russia Consumer Staples Netherlands
Lumen cut networks to Russia Communication Services United States
LUSH suspend online sales & supply to Russia Consumer Discretionary United Kingdom
LVMH suspend all operations in Russia Consumer Discretionary France
M&G phased divestment of Russian assets Consumer Discretionary United Kingdom
Maersk suspend all shipments to Russia Industrials Denmark
Magna suspend Russian plants Consumer Discretionary Canada
Magna Steyr suspend deliveries to Russia Industrials Austria
MAN suspend delivery, supply of trucks, and sales to Russia Industrials Germany
Mango suspend direct operations in Russia Consumer Discretionary Spain
Mannheimer Swartling suspend all operations Industrials Sweden
Manolo Blahnik suspend sales to Russia Consumer Discretionary United Kingdom
Marks & Spencer suspend all shipments to Russia Consumer Staples United Kingdom
Marvell suspend all sales to Russia in compliance with sanctions Information Technology United States
Mastercard suspend operations in Russia Information Technology United States
Mattel suspend shipments into Russia Consumer Discretionary United States
Mazda suspend all shipments to Russia Consumer Discretionary Japan
McCain Foods suspend operations in Russia Consumer Staples Canada
McCormick suspend operations in Russia Consumer Staples United States
Meggit cease all imports and exports with Russia Industrials United Kingdom
Mercedes-Benz suspend all shipments to Russia Industrials Germany
Meta suspend Russian advertising Communication Services United States
Metsa suspend operations at Russian mill Industrials Finland
Metso Outotec suspend all shipments to Russia Industrials Finland
Mettler Toledo suspend all shipments to Russia Health Care United States
Michelin suspended all operations in Russia Consumer Discretionary France
Micron Suspend shipments to Russia according to sanctions Information Technology United States
Milk Hydrosan sp. z o.o. suspended Russian contracts Industrials Poland
Mitsubishi Electric stop all sales to Russia but reserve the right to return Industrials Japan
Mitsubishi Motors suspended operations at Russian plant Consumer Discretionary Japan
Mobatime (Elekon) stopped activity and remotly stopped clock on Russian Academy of Sciences Consumer Discretionary Czech Republic
Moncler suspend operations in Russia Consumer Discretionary Italy
MongoDB suspend sales to Russia and Belarus Information Technology United States
Mothercare suspend operations in Russia Consumer Discretionary United Kingdom
Motorola Solutions suspend service orders to Russia Information Technology United States
MS & AD Insurance Group suspending operations Financials Japan
Munich Re not renew current contracts & suspend new business Financials Germany
MV Group suspends all imports and orders, froze partner brands Consumer Staples Lithuania
MVRDV suspend operations in Russia Industrials Netherlands
Namecheap stop offering products to Russia Information Technology United States
NCR suspend sales to Russia Information Technology United States
NEC suspend all future sales Information Technology Japan
Nemak halt production in Russia Consumer Discretionary Mexico
Neste Oyj suspend purchases of Russian oil Energy Finland
NetApp suspend business operations in Russia Information Technology United States
New Balance suspend shipments to Russia Consumer Discretionary United States
New Development Bank curtail Russian access to capital markets Financials China
NHL pause all partnerships in Russia NGO United States
Niantic Labs products made unavailable in Russia Information Technology United States
Nike suspend all operations in Russia Consumer Discretionary United States
Nikon suspend shipments to Russia Consumer Discretionary Japan
Nintendo suspend all sales in Russia Communication Services Japan
Nissan suspend all shipments to Russia Consumer Discretionary Japan
Norton suspend sales to Russia Information Technology United States
Nozbe cut off services for Russia and Belarus Industrials Poland
NSG Group (Pilkington) suspension all trading and investment Materials Japan
Nutanix pause all sales and support to Russia Information Technology United States
Nvidia suspend all sales in Russia Information Technology United States
NXP Semiconductors suspend all shipments to and business with Russia Information Technology Netherlands
Olvi stop exports to Russia Consumer Staples Finland
Olympus suspend sales of Scientific Solutions portfolio and all capital investments Information Technology Japan
ON24 suspend all Russian activities Information Technology United States
OP Bank Lithuania temporarily stop the processing of all payments from and to Russia & Belarus Financials Lithuania
OpenText suspend all business Information Technology Canada
Oracle suspend all operations in Russia Information Technology United States
Outokumpu stop sales and deliveries to Russia Materials Finland
PagerDuty suspend cooperation with Russian customers Information Technology United States
Panasonic suspend operations in Russia Consumer Discretionary Japan
Papa John's suspend support for all Russian franchises Consumer Discretionary United States
Paramount pause new content releases to Russia Communication Services United States
Payoneer close Russian accounts Information Technology United States
Paypal suspend operations in Russia Information Technology United States
Peak Design shut down sales to Russia Consumer Staples United States
Pernod Ricard pause exports to Russia Consumer Staples France
Pivovary Staropramen suspended beer exports Consumer Staples Czech Republic
Plzeňský Prazdroj suspend sales to Russia Consumer Staples Czech Republic
Podravka stop deliveries to Russia Consumer Staples Croatia
Polaris suspend exports to Russia Consumer Discretionary United States
Ponsse PLC discontinue all operations in Russia Industrials Finland
Porsche end shipments of new cars; dealerships running and warranty obligations honored Consumer Discretionary Germany
Prada suspend operations in Russia Consumer Discretionary Italy
Preem AB suspend purchases of Russian oil Energy Sweden
PTC discontinue all business operations and sales Information Technology United States
Puma suspend all shipments to Russia Consumer Discretionary Germany
PVH suspend operations in Russia Consumer Discretionary United States
Qlik suspend sales and services to Russia Information Technology Sweden
QS cease activity with Russian customers & cease promotion of Russian universities Information Technology United Kingdom
Qualcomm suspend shipments to Russia Information Technology United States
Rabobank curtail Russian access to capital markets Financials Netherlands
Rakovnický Pivovar stopped exports and withdrew some products for sale in Russia Consumer Staples Czech Republic
Ralph Lauren pause operations in Russia Consumer Discretionary United States
Raytheon suspend operations in Russia Industrials United States
Reface.ai suspend all new downloads and updates of app in Russia Information Technology Ukraine
Reima suspend all sales into Russia Consumer Discretionary Finland
Reliance intention to avoid Russian fuel Energy India
Remitly Global stop accepting new users in Russia Information Technology United States
Renault transfer Moscow factory to city government and partner for local brand production; suspend operations in Russia Consumer Discretionary France
Revolut stop top-ups for Russian cards and block transfers to Russian institutions Financials United Kingdom
Richemont suspend all operations in Russia Consumer Discretionary Switzerland
Ricoh suspend shipments to Russia Information Technology Japan
Roca closure of plants Consumer Discretionary Spain
Rockwell Automation suspend operations in Russia Industrials United States
Roland DG suspend all exports and sales to Russia Information Technology Japan
Rolls Royce suspend all shipments to Russia Industrials United Kingdom
Rovio remove games from app stores in Russia Information Technology Finland
Royal Society of Chemistry pause activities with Russian institutions NGO United Kingdom
Safran stop all activities in Russia Industrials France
Samsonite International suspend operations in Russia Consumer Discretionary Luxembourg
Samsung suspend all shipments to Russia Information Technology South Korea
Sandvik suspend all operations in Russia Industrials Sweden
Sardina suspend deliveries to Russia Consumer Staples Croatia
Scandinavian Tobacco suspend most operations in Russia Consumer Staples Denmark
Scania suspend all sales in Russia Industrials Sweden
Schwarz Group stop sales of Russian products in stores Consumer Staples Germany
Sennheiser suspend all business & stop exports Information Technology Germany
Sharp Group suspend shipping into Russia Information Technology Japan
Shiseido suspend export shipments to Russia Consumer Staples Japan
Simba Dickie Group suspend all business in Russia including with local independent distributor Consumer Discretionary Germany
Skytrax suspend all audit and rating analysis Financials United Kingdom
Smartway Pharmaceuticals suspended all operations, most supplies, and all advertising Health Care United Kingdom
Snap suspend all sales to Russia Communication Services United States
Sodeca cut off all supplies to Russian partners Industrials Spain
Solvay suspend operations in Russia Materials Belgium
SonoSim suspend distributor relationship in Russia Health Care United States
Sony pause release of new films in Russia, suspending console and game sales in Russia Consumer Discretionary Japan
Sportradar suspend all new investments in Russia, including signing new customers Consumer Discretionary Switzerland
SriLankan Airlines suspend flights between Sri Lanka and Russia Industrials Sri Lanka
SSAB shipments and sales to Russia discontinued Materials Sweden
Starbucks suspend all operations in Russia Consumer Discretionary United States
Stellantis suspend operations in Russia Consumer Discretionary Netherlands
STIHL suspend deliveries to Russia Consumer Discretionary Germany
Stora Enso stop all production and sales in Russia Materials Finland
Storytel pause operations in Russia Utilities Sweden
Subaru suspend all shipments to Russia Consumer Discretionary Japan
Sumitomo Group scaling back or suspending all Russian-related business Financials Japan
Supercell remove games from app stores in Russia Information Technology Finland
Swarovski suspend all sales in Russia Consumer Discretionary Liechtenstein
Swatch suspend direct operations in Russia Consumer Discretionary Switzerland
Sylvamo suspend operations in Russia Materials United States
Systemair suspend all sales to Russia Industrials Sweden
T Machinery Stopped cooperation Industrials Czech Republic
Tadano suspension of shipments into Russia Industrials Japan
Tanin goods are stopped Materials Slovenia
Tata Motors paused sales of Jaguar Land Rover in Russia Consumer Discretionary India
Tendam suspend activity in Russia Consumer Discretionary Spain
The Navigator Company suspend all marketing in Russia Materials Portugal
Thermo Fisher suspend sales and manufacturing in Russia Health Care United States
TikTok suspend operations in Russia Communication Services United States
Timken suspend operations in Russia Industrials United States
Torm effectively suspend shipments to Russia Industrials Denmark
Tous close shops and online store in Russia Consumer Discretionary Spain
Toyota suspend all shipments to Russia Consumer Discretionary Japan
Trane Technologies suspend shipments to Russia Industrials Ireland
Trelleborg Group suspended deliveries and sales to Russia Industrials Sweden
Trimble suspend all sales in Russia Information Technology United States
TSMC suspend all shipments to Russia Information Technology Taiwan
TTC Holding suspended activities Real Estate Czech Republic
Twin Disc suspend all shipments to Russia Industrials United States
Twitter suspend certain operations in Russia Communication Services United States
Ubisoft suspend new sales to Russia Information Technology France
UiPath suspend sales in Russia Information Technology United States
UL stop all work in Russia and Belarus Consumer Staples United States
Under Armour suspend all shipments to Russia Consumer Discretionary United States
Uniqlo/Fast Retailing suspend operations in Russia Consumer Discretionary Japan
UPM temporarily suspend operations and sales in Russia Materials Finland
UPS suspend all shipments to Russia Industrials United States
Valero Energy suspend purchases of Russian oil Energy United States
Veeam pause sales in Russia Information Technology United States
VF Corporation temporarily suspend commercial activities Consumer Discretionary United States
Viessmann stop business with Russia & stop deliveries to and from Russia Industrials Germany
Vietnam Airlines suspend flights to Russia Consumer Discretionary Vietnam
Visa suspend operations in Russia Information Technology United States
Vitec Group suspend all exports and services Consumer Discretionary United Kingdom
Viva suspend purchases of Russian oil Energy Australia
VMWare suspend operations in Russia Information Technology United States
Volkswagen suspend all shipments to Russia Consumer Discretionary Germany
Volvo Cars suspend all shipments to Russia Industrials Sweden
Volvo Group suspend all sales, service and production Industrials Sweden
WarnerMedia pause new content releases Communication Services United States
WEKA suspend business and concrete deals with Russia Information Technology United States
Western Union suspend operations in Russia Information Technology United States
WeTransfer suspend all services in Russia Financials United States
William Grant & Sons suspend all shipments to Russia Consumer Staples United Kingdom
Wise PLC suspend Russian partnerships Information Technology United Kingdom
Wizz Air Air flights to/from Russia are temporarily suspended Industrials Hungary
Wrangler (Kontoor) suspend online sales Consumer Discretionary United States
Xerox suspend shipments to Russia Information Technology United States
Yara suspend all imports from Russia Materials Norway
YKK Group suspend operations in Russia Industrials Japan
Yokohama halt production in Russia Industrials Japan
Zegna Group suspended all shipments to and production for Russia partners Consumer Discretionary Italy
Zendesk suspend all sales to Russia Information Technology United States
Zetor suspend all cooperation with Russia Industrials Czech Republic
ZHA suspend operations in Russia Industrials United Kingdom
Zynga suspend all installations, monetization and marketing support Consumer Discretionary United States

Withdrawal

Clean Break - Surgical Removal, Resection (319 Companies) (Grade: A)

Companies totally halting Russian engagements or completely exiting Russia...

Name Action Industry Country
Accenture exiting Russia completely Information Technology Ireland
Accountor withdrawal from Russia Information Technology Finland
Acronis suspend operations in Russia Information Technology Switzerland
Adamed halted sales to Russia Health Care Poland
Adenza discontinue all operations in Russia Information Technology United Kingdom
AECOM exit Russia operations Industrials United States
AerCap cease leasing activity with Russian airlines Industrials Ireland
AG Barr cut ties with Russian market Consumer Staples United Kingdom
Air Products full divestiture from Russia Materials United States
AirBaltic leave Russian market until further notice Industrials Latvia
Akvelon close offices in Moscow Information Technology United States
Alcoa cease buying raw materials from, or selling our products to, Russian businesses Materials United States
Aldi remove products from Russia Consumer Staples Germany
Allegro bans Russian & Belarussian products Consumer Discretionary Poland
Allen & Overy wind down Russian operations Industrials United Kingdom
Ametek closing TPM Russia subsidiary due to war in Ukraine Industrials United States
Amsted Rail exit Russia completely Industrials United States
AP7 sell off all of Russian shares Financials Sweden
APG sell all Russian investment Financials Netherlands
ArcelorMittal removed all Russian materials from supply chain Materials Luxembourg
Arendt & Medernach pull out of Russia; close Russian office and suspend select Russian client engagements Industrials Luxembourg
Asda remove products from Russia Consumer Staples United Kingdom
Assicurazioni Generali exit Russia completely Financials Italy
Atos exit from Russia Information Technology France
Atria exit business in Russia Consumer Staples Finland
Avantor discontinue all sales into Russia, direct and indirect Industrials United States
Avery Dennison exit Russian operations Materials United States
Avid cease all sales and support to all customers, users and resellers in Russia & Belarus Information Technology United States
Baker Botts wind down Moscow office Industrials United States
Baker McKenzie cease operations in Russia and transfer them to an independent entity Industrials United States
Baker Tilly gradual wind down of operations in Russia Industrials United Kingdom
Bakoma withdraw from Russia completely prior to aggression Consumer Staples Poland
Ball Corporation leave Russia completely Materials United States
BASF SE wind down Russian operations Materials Germany
BBDO exit Russian operations Industrials United States
Bestseller stop all sales to Russia through distributors Consumer Discretionary Denmark
BlackRock curtail Russian access to capital markets Financials United States
Bonava close operations in Russia Real Estate Sweden
Bose stop all product shipments Information Technology United States
BP divest from 20% Rosneft stake Energy United Kingdom
British American Tobacco exit Russian operations Consumer Staples United Kingdom
Bryan Cave exit Russian operations Industrials United States
Bumble remove apps from app stores Communication Services United States
Carlsberg exit Russia completely Consumer Staples Denmark
Carnival discontinue Russia itineraries Consumer Discretionary United States
Centrica exit gas supply partnership with Gazprom Utilities United Kingdom
Ceratizit stop all deliveries to Russia and Belarus Industrials Luxembourg
Cersanit put up its Russian business for sale Materials Poland
Chapman Freeborn wind down Russian business Industrials United Kingdom
Ciech suspended Russian exports Materials Poland
Clarivate exit Russian operations Industrials United Kingdom
Clifford Chance wind down operations in Moscow Industrials United Kingdom
Colliers Discontinue business in Russia Real Estate Canada
Comarch halts orders from Russia & Belarus Information Technology Poland
Compass Group permanently exit Russian market Consumer Staples United Kingdom
Coop fully divest Russian operations Transgourmet via management buyout Financials Switzerland
Coty wind down Russian business Consumer Staples United States
CRH withdrawal from Russia Materials Ireland
Cummins exit Russian operations Industrials United States
Currency.com halting operations for residents of Russian Financials United Kingdom
Cushman & Wakefield close office in Russia; transfer to local partner Real Estate United States
Cyfrowy Polsat removing Russian TV channels from the offer Communication Services Poland
Danfoss exit Russia completely Industrials Denmark
DDB exit Russian operations Materials United States
Dechert close Russian office Industrials United States
Deezer suspend operations in Russia Communication Services France
Deichmann stop operations in Russia Consumer Discretionary Germany
Deloitte leaving Russia completely Industrials United States
Delta Air Lines suspend agreement with Aeroflot Industrials United States
Demant stop all sales to Russia Health Care Denmark
Dentons exit Russian operations Industrials Switzerland
Dentsu International divest joint venture/leave Russia Communication Services United Kingdom
Deutsche Telekom close Russian business Communication Services Germany
Dino Polska removed Russian products Consumer Staples Poland
DJI stop selling drones in Russia Information Technology China
DLA Piper withdrawing from Russia Industrials United States
Dr. Oetker stops sales and production in Russia; transferred ownership of production facilities Consumer Staples Germany
DXC Technology leaving Russia completely Information Technology United States
EarthDaily Analytics suspend operations in Russia Industrials United States
eBay suspend all shipments to Russia Consumer Discretionary United States
Edeka remove Russian food from store shelves Consumer Staples Germany
edX withdraw from all Russian partnerships Information Technology United States
Electronic Arts suspend all operations in Russia Communication Services United States
Elisa Esports ban Russian teams from participating in tournaments NGO Finland
ELKO Group leave Russia Information Technology Lativa
ENEOS stop purchases of Russian crude Energy Japan
Eni divest Russian pipeline Energy Italy
EPAM discontinue servicing Russian customers Information Technology United States
Equinor exit joint ventures in Russia Energy Norway
ESAB transition out of operations in Russia Industrials Sweden
Esri curtailing sales to Russia Information Technology United Kingdom
Etsy deactivate all listings from Russian sellers Consumer Discretionary United States
Eurovision ban on all Russian competition Financials United Kingdom
Eversheds Sutherland close Russia office Industrials United Kingdom
Expedia suspend bookings in Russia Consumer Discretionary United States
Exxon exit Rosneft partnership Energy United States
EY leaving Russia completely Industrials United States
Famur suspended Russian exports Industrials Poland
Farfetch suspend all shipments to Russia Consumer Discretionary United Kingdom
Fazer suspend operations in Russia Consumer Staples Finland
Ferragamo suspend all shipments to Russia Consumer Discretionary Italy
FICO exiting all work in Russia Information Technology United States
FIFA ban Russian athletes from competing Industrials Switzerland
Fiskars withdraw completely from the Russian market Consumer Discretionary Finnland
Fitch suspend operations in Russia Financials United States
FMC Corporation discontinue all business and operations Materials United States
Fonterra exit its businesses in Russia. Consumer Staples New Zealand
Formula One suspend all operations in Russia Communication Services United Kingdom
Fortinet suspend operations in Russia Information Technology United States
Fortum exit Russian market Utilities Finland
Freshfields closing business in Russia Industrials United Kingdom
G2A block marketplace for Russian users Communication Services Netherlands
Gameloft make company's games unavailable in Russia Information Technology France
Gaz-System stopped gas imports Utilities Poland
Geodis suspend all shipments to Russia Industrials France
Global Foundries suspend all shipments to Russia Information Technology United States
GoDaddy discontinue all Russian services Information Technology United States
Gowling leave Russia Industrials Canada
Grainpro suspend all operations in Russia Materials United States
Grammarly suspend operations in Russia Information Technology United States
Grant Thornton closing business in Russia Industrials United States
Grohe cease all activities with Russia Consumer Discretionary Germany
Grupa Azoty stopped exporting its products to Russia or Belarus Materials Poland
Haniel unwind all Russian business Materials Germany
Hays plc close Russian business Industrials United Kingdom
Heidrick & Struggles ceased all operations in Russia Industrials United States
Heineken exit Russia completely Consumer Staples Netherlands
Hempel exit Russia Industrials Denmark
Henkel in process of exiting business activities in Russia Consumer Staples Germany
Herbert Smith Freehills suspend operations in Russia Industrials Australia
Hesburger withdraw from Russia Consumer Discretionary Finland
Hogan Lovells exit Russian operations Industrials United Kingdom
Holcim exit Russian market completely Materials Switzerland
Houthoff terminate all relationships with Russia Industrials Netherlands
Huhtamaki divest Russian operations Consumer Staples Finland
IMCD withdraw from Russia completely Industrials Netherlands
Imperial Brands transfer Russian business to local partners Consumer Staples United Kingdom
Incoff Aerospace no longer trade with the Russians Industrials Slovakia
Infosys shutting down operations in Russia Information Technology India
InPost stop purchasing services/goods from Russian & Belorussian companies Industrials Poland
Intercontinental Exchange curtail Russian access to capital markets Financials United States
International Boxing Federation ban on all Russian competition NGO France
International Cat Federation ban Russian cats from competitions NGO Canada
International Cycling Union ban on all Russian competition NGO United States
International Ice Hockey Federation ban on all Russian competition NGO Switzerland
International Olympic Committee ban Russian athletes from competing NGO Switzerland
International Skating Union ban on all Russian competition NGO Switzerland
International Tennis Federation suspend Russian partnerships NGO United Kingdom
International Weightlifting Federation ban on all Russian competition NGO Switzerland
Interpublic Group exit Russian operations Communication Services United States
ISS ISS divested its Russian activities during March and is no longer active in Russia Industrials Denmark
J Sainsbury remove products from Russia Consumer Staples United Kingdom
Jabil closed its site in Russia Information Technology United States
Jamie Oliver exit franchise agreement Consumer Staples United Kingdom
Jan de Nul close rep office and withdraw ships Industrials Luxembourg
JetBrains suspend all activity indefinitely Information Technology Czech Republic
JLL Separated operations in Russia. Real Estate United States
John Wood Group withdraw from Russia Industrials United Kingdom
JYSK suspend operations in Russia Financials Denmark
Kalnapilis-Taurus termination of export ties and production in Russian Market Consumer Staples Lithuania
Kearney suspend work with Russian clients Industrials United States
Kelly leave Russia & transition operations Industrials United States
Kemira exit Russia completely Consumer Discretionary Finland
Kesko stop sales to Russia and imports from Russia Consumer Staples Finland
Kiilto seeking exit from Russian business Materials Finland
Kingspan suspend operations in Russia Industrials Ireland
Kinross Gold complete exit from Russia by selling Russian operations Materials Canada
KLP exit all investment holdings in Russia Financials Norway
Knorr-Bremse stop shipments to Russia; end JVs Industrials Germany
Kofax curtail all sales of software and close sites in Russia Information Technology United States
Konecranes stop all orders from Russia Industrials Finland
Korean Air Lines no flying over Russian airspace until the end of April Industrials South Korea
KPMG leaving Russia completely Industrials United States
Krispy Kreme winding down business in Russia Consumer Discretionary United States
Krombacher stopped exports to Russia Consumer Staples Germany
Kuehne + Nagel AG suspend all shipments to Russia Industrials Switzerland
Latham & Watkins suspend operations in Russia Industrials United States
Lincoln Electric ceased all operations Industrials United States
Linklaters suspend operations in Russia, with entities connected to the Russian state Industrials United Kingdom
Live Nation Entertainment suspend all operations in Russia Information Technology United States
Lloyd's Register withdraw services to Russia Industrials United Kingdom
London Stock Exchange Group curtail Russian access to capital markets Financials United Kingdom
LPP Group left Russia Consumer Discretionary Poland
Lufthansa suspended flights and ended Russian aircraft maintenance Industrials Germany
Luxoft exit Russian market Information Technology Switzerland
Marsh McLennan exit operations in Russia Financials United States
McDonald's leave the Russian market & sell Russian business Consumer Discretionary United States
McKinsey suspend all consulting in Russia Industrials United States
MessageBird shut down API access, block SMS and voice traffic to Russian carriers Information Technology Netherlands
Monroe Energy suspend partnerships with Russia Energy United States
Moody's suspend operations within Russia Financials United States
Moog Inc. exit Russian operations Industrials United States
Morgan Advanced Materials suspend all operations in Russia Industrials United Kingdom
Morgan Lewis suspend operations in Russia Industrials United States
Morrisons remove products from Russia Consumer Staples United Kingdom
MSC temporary suspension of all shipments to Russia Financials United States
MSCI curtail Russian access to capital markets Financials United States
Nasdaq curtail Russian access to capital markets Financials United States
Naspers separate from Avito and fully exit Russia Consumer Discretionary South Africa
NCAB Group AB Sold assets and ceased operations in Russia Industrials Sweden
Netflix suspend operations in Russia Communication Services United States
Netscout suspend Russian operations Information Technology United States
Nokia pulling out of Russia completely Information Technology Finland
Norton Rose Fulbright exit from Russia Industrials United Kingdom
Norwegian Cruise Lines discontinue Russian itineraries Consumer Discretionary United States
OBI exit Russian market completely Consumer Discretionary Germany
Oceania Cruises discontinue Russian itineraries Consumer Discretionary United States
Omnicom Media Group exit Russian operations Communication Services United States
OneWeb suspend use of Russian airspace Communication Services United States
Orkla exit Russian operations Consumer Staples Norway
Orlen Lietuva stopped Russian oil imports Energy Poland
Owens Corning expedite exit from Russia Industrials United States
Pandora stop all sourcing from Russia Consumer Discretionary Denmark
Par Pacific suspend partnerships with Russia Energy United States
Parker Hannifin closed our office and warehouse facility in Moscow and no longer do business in this country Industrials United States
Paulig suspend operations in Russia Consumer Staples Finland
Pekao SA transactions in Russian ruble suspended Financials Poland
Pensioenfonds Detailhandel sell off all Russian investments Financials Netherlands
Pentair exiting its business in Russia Industrials United States
PFZW divest from all Russian assets Financials Netherlands
PGL Esports exclusion of esports teams and individuals with connections to the Russian government from upcoming competition Communication Services United States
PKO BP suspends transactions with Russian banks transactions in Russian ruble suspended Financials Poland
Playmobil stop all sales to Russia Consumer Discretionary Germany
PME pensioenfonds sell off all Russian investments Financials Netherlands
Polskie Górnictwo Naftowe i Gazownictwo SA stopped gaz imports Energy Poland
Prio ceased purchase of any products from Russian or directly related companies Energy Portugal
Prosus divest from local subsidiary Communication Services Netherlands
Publicis Groupe cede ownership to local affiliates Communication Services France
PwC leaving Russia completely Industrials United States
PZU SA reduced position in Russian bonds to zero Financials Poland
Qantas Airlines no longer flies over Russian territory Industrials Australia
R&A ban on all Russian competition Industrials United States
Radio Free Europe suspend operations in Russia Communication Services Czech Republic
Reckitt Benckiser Group begins a process aimed at transferring ownership of its Russia business Consumer Staples United Kingdom
Red Hat discontinue sales and services in Russia & terminate partnerships Information Technology United States
Regent Seven Seas Cruises discontinue Russian itineraries Consumer Discretionary United States
Rewe remove products from Russia from shelves Consumer Discretionary Germany
Rimi remove products from Russia from shelves Consumer Discretionary Latvia
Rio Tinto terminate all commercial relationships with Russia Materials Australia
Rocket Lawyer suspend Russian and Belarusian access to the platform
Roku remove Kremlin-linked propaganda and ads Communication Services United States
Roland Berger end any activity for Russia Industrials Germany
Rolex suspend exports to Russia Consumer Discretionary Switzerland
S Group (Suomen Osuuskauppojen Keskuskunta) close all operations Consumer Staples Finland
S&P curtail Russian access to capital markets Financials United States
Salesforce suspend operations in Russia Information Technology United States
Savills end partnerships in Russia Real Estate United Kingdom
Schneider Electric sell Russian assets to local management and exit completely Industrials France
Shell withdraw from Russia; sell retail and lubricants business to Lukoil Energy United Kingdom
Sidley Austin end all Russian relationships Industrials United States
Siemens exit Russian market Industrials Germany
Signet Jewelers suspend operations in Russia Consumer Discretionary United States
SKF end sales and production in Russia Industrials Sweden
Skoda halted production and stopped exports Consumer Discretionary Czech Republic
Slack exit Russian market completely Information Technology United States
SMAY stopped all Russian business Industrials Poland
Smurfit Kappa exit Russian market Materials Ireland
Societe Generale cessation of all activities in Russia Financials France
Sodexo ceded control of its operations in Russia Industrials France
Sonos ceased all sales to this market at the onset of the war and blocked Russian state radio Consumer Discretionary United States
Spotify closed office and other restrictions Communication Services Sweden
Squire Patton Boggs suspend operations in Russia Industrials United States
Stanley Black & Decker suspend operations in Russia Industrials United States
State Street curtail Russian access to capital markets Financials United States
Storebrand divest all Russian holdings Financials Norway
Strabag winding down operations in Russia; terminating shareholder syndicate agreements with Deripaska Industrials Austria
Svenska Handelsbanken divest from all Russian investments Financials Sweden
Sweco stop all projects in Russia Industrials Sweden
Systembolaget remove all Russian alcohol from stores Consumer Discretionary Sweden
Take-Two Interactive suspend all sales in Russia Communication Services United States
Tata Steel replaced all Russian raw materials for operations; no presence in Russia Materials India
Teknotherm Marine HVAC sp. z o.o. complete withdrawal from Russia Industrials Poland
Teradata stopped all business in Russia Information Technology United States
Tietoevry conclude total exit from Russia Information Technology Finland
TJ Maxx divest Familia subsidiary Consumer Discretionary United States
TripAdvisor remove Kremlin-linked propaganda and ads Communication Services United States
TUI end brand-sharing agreement; had already exited Consumer Discretionary Germany
Tunnock's discontinue supplies to Russia Consumer Staples United Kingdom
Uber divest from partnership with Yandex Information Technology United States
UEFA ban Russian athletes from competing NGO Switzerland
United Airlines no flying over Russian airspace Industrials United States
United Internet Group suspend all Russian contracts Information Technology Germany
Universal closing operations in Russia Communication Services United States
Upwork suspend operations in Russia Industrials United States
Valio sell business and Viola brand to Velcom Consumer Staples Finland
Vanguard suspend operations in Russia Financials United States
Velux permanently close operations in Russia and Belarus Consumer Discretionary Denmark
Vianor terminate contract with Russian subsidiary Consumer Discretionary Finland
Vičiūnai selling Russian operations and exiting Russia Consumer Staples Lithuania
Vinmonopolet stop sales of all Russian wine, spirits and strong beers in Norway Consumer Staples Norway
Vodafone suspend partner agreement with MTS Information Technology United Kingdom
Volaris Group discontinue sales and support to Russia Information Technology Canada
Volfas Engelman suspend investment and withdraw from Russian market Consumer Staples Lithuania
Waitrose remove products from Russia Consumer Staples United Kingdom
Walker's Shortbread cancel all future orders to Russia Consumer Staples United Kingdom
Wargaming close operations; transfer of some business Consumer Discretionary Belarus
Waters Corporation suspend all sales and services into Russia Health Care United States
Weir Group wind down Russian business in 2022 Industrials United Kingdom
WePlay terminate all Russian operations Consumer Discretionary United States
WeWork planning divestment of Russian operations Real Estate United States
Wex Inc. ending relationship with Lukoil and subsidiaries Information Technology United States
White & Case wind down Russian operations Industrials United States
Wielton suspended Russian exports Industrials Poland
Willis Towers Watson fully exit Russia and transfer ownership to local management Financials United Kingdom
Winston & Strawn suspend operations in Russia Industrials United States
Women's Tennis Association suspend Russian partnerships NGO United States
World Athletics Council ban on all Russian competition NGO United States
World Boxing Association ban on all Russian competition NGO Panama
World Boxing Council suspend Russia from title fights NGO Mexico
World Boxing Organization ban on all Russian competition NGO United States
World Federation of Exchanges suspend all Russian members and affiliates NGO United Kingdom
World Rowing Federation ban on all Russian competition NGO United States
World Rugby Union ban on all Russian competition NGO Ireland
Woseba suspends deliveries to Russia Consumer Discretionary Poland
WPP PLC suspend all operations in Russia Communication Services United Kingdom
WWE suspend all operations in Russia Communication Services United States
YIT exits Russia projects Industrials Finland
YOOX suspend all shipments to Russia Consumer Discretionary Italy
Żabka halts orders from Russia & Belarus Consumer Staples Poland