A week after Russian forces invaded Ukraine in a full-scale attack on its neighbor, the consequences for both countries have been nothing short of catastrophic. Ukrainian cities continue to be hit by shelling and gunfire — over 1 million Ukrainians have now fled to neighboring countries while countless others are have been displaced internally.
As Western countries responded to Vladimir Putin's murderous aggression with sweeping sanctions, Russia's economy took a colossal hit. The ruble is now at a record low and countless companies are either pulling out or severely limiting their presence in the country — Netflix (NFLX) - Get Netflix Inc. Report, Disney (DIS) - Get The Walt Disney Company Report, General Motors (GM) - Get General Motors Company Report and Boeing (BA) - Get The Boeing Company Report are just a few names to do.
Below, we put together a list of the companies that have pulled out of Russia in recent days. We continue to update this list as more companies leave.
The Tech Industry:
While many big-name tech players expressed support of Ukraine, the biggest move so far has come from Apple (AAPL) - Get Apple Inc. Report — the tech giant announced that it was stopping all sales of iPhones, MacBooks and other Apple products to Russia earlier this week.
Facebook META, Twitter (TWTR) - Get Twitter Inc. Report, Google (GOOGL) - Get Alphabet Inc. Report-owned YouTube and Netflix (NFLX) - Get Netflix Inc. Report had all already limited access to Kremlin-backed channels like Russia Today and Channel One. However, Apple's move may put pressure on other companies to take things one step further and fully pull out products and shutter offices.
Spotify (SPOT) - Get Spotify Technology S.A. Report, which is in the midst of its own scandal over its Joe Rogan podcast, closed its Moscow office but did not block access to its content in order to, the company said, provide Russian citizens with information on the war that contradicts official Kremlin sources.
"Our first priority over the past week has been the safety of our employees and to ensure that Spotify continues to serve as an important source of global and regional news at a time when access to information is more important than ever," the company said in a statement.
The Auto Industry:
German car manufacturer Volkswagen (VLKAF) was the latest auto company to stop its operations in Russia — production at its Kaluga and Nizhny Novgorod factories has been put on hold "until further notice." General Motors (GM) - Get General Motors Company Report, Ford (F) - Get Ford Motor Company Report, BMW (BMW) and Volvo (VOLAF) have all ceased exports into the country and, as the situation on the ground in Ukraine escalated, started stopping production on the ground.
"Our thoughts are with the people of Ukraine at this time. The loss of life is a tragedy and our overriding concern is for the safety of people in the region," General Motors said in a statement.
The Aviation Industry:
While the decision to close their airspaces to Russian planes can only come from governments, airline companies also played a part in showing solidarity with Ukraine and halting operations in Russia. Boeing (BA) - Get The Boeing Company Report and Airbus (EADSY) - Get Airbus SE ADR - Level I Report both suspended supply of parts and maintenance for their planes on Russian territory as well as halting plane-building projects.
"We have suspended major operations in Moscow and temporarily closed our office in Kyiv," Boeing said. "We are also suspending parts, maintenance and technical support services for Russian airlines."
While energy companies' exit do not get as much attention as a Netflix or Spotify exit, their withdrawal has major implications — ExxonMobil (XOM) - Get Exxon Mobil Corporation Report abandoned a $4 billion oil and gas project known as Sakhalin-1 while Shell (RYDAF) ditched its own stakes in that and other major gas projects in Siberia and the Gydan Peninsula. It also cut all ties with Russia's state-owned energy supplier Gazprom.
Many of these companies also pulled their stakes from Nord Steam 2, a major cross-national gas-supplying pipeline project that was nixed by the German government after Russia's invasion. UK-based BP also pulled its 19.75% stake in Russian oil giant Rosneft while countless smaller oil companies from Italy, Norway, France and others are also in the process of puling out their gas projects in the country.
"We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security," Shell's CEO said in a statement.
The most recent move in support of Ukraine came from Ikea, which stopped its operations in Russia and Belarus. (Belarus allowed Russian troops to enter Ukraine through its territory) on Thursday. Fashion giant H&M H&M closed its stores and stopped new orders on Wednesday while UK-based online retailers like Asos and Boohoo made similar moves for online sales.
"The devastating war in Ukraine is a human tragedy, and our deepest empathy and concerns are with the millions of people impacted," Ikea said in a statement. "The immediate actions of Inter IKEA Group and Ingka Group have been to support the personal safety and security of IKEA co-workers and their families, and we will continue to do so."
UPS (UPS) - Get United Parcel Service Inc. Report, FedEx (FEDEX) and DHL (DHL) have all stopped delivery service to both Russia and Ukraine amid the conflict. While the move has more to do with safety amid ongoing fighting, the halted operations make it very difficult to ship goods to the country at a time when global supply chain disruptions are already at an all-time high.
"As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with exception of foodstuffs, medical and humanitarian supplies," Maersk told CNN.
Countless other smaller companies across all industries have also taken action against Russia's military presence in Ukraine. World Wrestling Entertainment (WWE) - Get World Wrestling Entertainment Inc. Class A Report pulled out of a partnership with Russian broadcaster Match. Stores and restaurants around the world have been pulling Russian vodka from their shelves.
Major Hollywood studios pulled Russian releases of blockbusters like "The Batman," "Turning Red" and "Morbius" from theaters while performers from Louis Tomlinson to The Killers canceled concerts. Larger concert organizer Live Nation Entertainment also announced that it would stop business in the country.
"We will not promote shows in Russia, and we will not do business with Russia. We're in the process of reviewing our vendors so we can cease work with any and all Russian-based suppliers," Live Nation said in a statement.
We will continue to update this list as more companies issue statements.