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Here are all the major US and European companies pulling out of Russia following the invasion of Ukrainehttps://www.businessinsider.in/policy/economy/news/here-are-all-the-major-us-and-european-companies-pulling-out-of-russia-following-the-invasion-of-ukraine/slidelist/89950249.cms2022-03-02T19:02:19+05:30

Here are all the major US and European companies pulling out of Russia following the invasion of Ukraine

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Hannah Towey,Sarah Al-ArshaniMar 2, 2022, 19:02 IST

Here are all the major US and European companies pulling out of Russia following the invasion of Ukraine — Russian President Vladimir Putin ordered troops into eastern Ukraine on Monday.Alexei Nikolsky/Associated Press
Major companies are ending decades of business with Russia following Putin's invasion of Ukraine.
The latest brands exiting the country include Shell, BP, Apple, and General Motors.
Companies from around the world are pulling out of Russia as the country plunges into economic free fall following its invasion of Ukraine.
Big Oil companies BP and Shell both dumped their 20% stakes in Rosneft, Russia's state-backed energy giant, in protest of the military action against Ukraine. On Tuesday, Apple announced it would halt all product sales in Russia and block state media outlets RT News and Sputnik from the App Store.
Here are all the major US and European companies that have severed business ties with Russia so far:

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1. ExxonMobil

1. ExxonMobil — ExxonMobil logo displayed on a phone screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on January 22, 2022.Jakub Porzycki/NurPhoto via Getty Images
In a statement on Tuesday, ExxonMobil said it would begin the process to discontinue operations and develop steps to exit the Sakhalin-1 venture, a project it operates on behalf of an international consortium of Japanese, Indian, and Russian companies.
Per the Sakhalin-1 website, it is one of the largest single international direct investments in Russia.
The company said that given the current situation, it would not invest in new developments in Russia.
"ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia's military action that violates the territorial integrity of Ukraine and endangers its people," ExxonMobile said in the statement.

2. Harley-Davidson

2. Harley-Davidson — Europe is Harley-Davidson's second-largest market for motorcycle sales after the US.Thomson Reuters
Source: Reuters

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3. General Motors

3. General Motors — GM is pulling from Russia "due to a number of external factors, including supply chain issues and other matters beyond the company's control," a spokesperson said.Paul Hennessy/SOPA Images/LightRocket via Getty Images
Source: Bloomberg

4. Truck manufacturers Volvo and Daimler Truck Holding

4. Truck manufacturers Volvo and Daimler Truck Holding — We are deeply shocked by the military violence in Ukraine and very concerned about the threats to peace and stability in Europe," Daimler Truck tweeted on Monday. "We have decided to suspend our business activities in Russia with immediate effect until further notice."Getty

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5. Shell

5. Shell — A Shell gas station in Leningradskoye Highway, Moscow, Russia.Valery Sharifulin/TASS/Getty Images

6. BP

6. BP — A BP gas station in Saint-Petersburg, Russia in January 2020.Sergei Mikhailichenko/SOPA Images/LightRocket via Getty Images

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7. Apple

7. Apple — Smartphone with the apps VKontakte, Twitter, RT News, Facebook, Instagram, Telegram and TikTok.Fernando Gutierrez-Juarez/picture alliance via Getty Images

8. Norway's energy group Equinor

8. Norway's energy group Equinor — Equinor is divesting from its joint ventures in Russia. It had $1.2 billion in non-current assets in Russia and also expects impairments from the exit.Reuters

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9. Norges Bank Investment Management, the world's largest sovereign wealth fund in Norway

9. Norges Bank Investment Management, the world's largest sovereign wealth fund in Norway — Norwegian Prime Minister Jonas Gahr Støre said the country's massive sovereign wealth fund would exit its Russian investments.Kay Nietfeld/Getty Images
Source: Insider
This story is developing. Check back for updates.

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