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HUNDREDS OF U.S. COMPANIES LEAVING RUSSIA
Mar. 10, 2022
The Hill reports:
Hundreds of large U.S. companies have suspended their operations in Russia, including iconic American brands such as McDonald's, Coca-Cola and Disney, amid a corporate exodus from the country.
Corporate America has joined much of the international community in condemning Russian President Vladimir Putin's violent invasion of Ukraine, while pledging to aid the humanitarian effort.
Those moves put pressure on the small number of American companies that haven't yet distanced themselves from Russia to follow in the footsteps of leading U.S. brands.
"Right now there's a huge cost to doing any business with Russia," said Jim Angel, a professor at the Georgetown McDonough School of Business. "There are political costs, social costs and economic costs."
Companies are weighing the reputation risk of continuing to do business with Moscow, while also considering the challenge of safely transporting goods through the region and the financial complications stemming from strict sanctions and export controls imposed on Russia by the U.S. and its allies.
To read the entire report .
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