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From Apple to Spotify: List of companies that have shut shop in Russia
Sanctions issued by the UK, US, Japan & Canada has made it impossible for domestic and international companies to conduct any business in Russia.
Updated : Mar 03, 2022, 04:18 PM IST | Edited by : Anupama Yadav
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Russia's unexpected attack on Ukraine has left its economy hanging by a thread. Despite several warnings from the US and its allies, President Vladimir Putin launched a military attack on Ukraine forcing countries to issue sanctions against Russia.
Currently, Russia has been restricted from accessing any overseas currency while many banks have been barred from SWIFT. For the unversed, SWIFT is a global financial network that helps international transactions.
Notably, the barring of SWIFT has led to the downfall of the Russian Ruble as well.
Also Read | Russian troops seize control of strategic Ukrainian port of Kherson
All sanctions issued by the UK, US, Japan, Canada, the European Union has made it impossible for domestic and international companies to conduct any business in Russia.
Companies that initially pulled out of Russia were Google and YouTube. Google had banned all Russian media outlets from monetizing any content, Google ads and Google pay as well which has led to a massive outcry for Russian citizens in this day and age of online transactions. With no one carrying cash currency with them, life has only become difficult.
On the other hand, YouTube barred Russian state-controlled media house RT from getting ad sense money and its broadcast in Ukraine.
Apart from these, Apple has also suspended all its operations in Russia including the sale of iPhones, iPads and Macs.
In the latest news, Spotify has also closed its office in Russia indefinitely in response to what the audio streaming platform described as Moscow's "unprovoked attack on Ukraine."
Following these, BP - a British multinational oil and gas company announced that it would exit its 20% stake in state-controlled Rosneft on Sunday. Shell plc too joined hands with BP and declared that it was ending its long term partnership with the state-owned Gazprom.
On the other hand, Coca-Cola's bottling partner - Coca-Cola Hellenic Bottling Company announced that it was shutting all operations in Ukraine amid the Russian invasion.
