Business

the companies controversially staying put in Russia

A string of major Western companies are boycotting Russia following Vladimir Putin’s invasion of Ukraine.

But while some of the biggest names in business have announced they are pulling out, some have decided to remain.

Brands staying in Russia: 

Ab InBev 

Stella Artois owner operating through local subsidiary

Alphabet 

Google and YouTube parent has blocked Russian advertising

Bank of China 

Staying but has curtailed access to capital markets

BNP Paribas 

Staying but has curtailed Russian access to financial markets

British American Tobacco 

BAT, which makes Dunhill and Lucky Strike cigarettes, says it has cut marketing spending and capital investment in Russia. 

However, the company, which says it is “deeply concerned” about the Ukraine conflict, continues to operate for the most part in Russia. 

Carlsberg 

Has suspended new investment but continues to trade

Credit Suisse 

Staying but has curtailed Russian access to capital markets

Danone

Danone, the world’s largest manufacturer of yoghurt, has vowed not to make new investments in Russia but continues to sell dairy products, water and baby foods there.

Antoine de Saint-Affrique, the chief executive, justified this position by saying his company had a “responsibility to the people we feed, the farmers who provide us with milk, and the tens of thousands of people who depend on us”.

eBay 

Website still operating but new shipments halted

Goldman Sachs

Has moved some staff

HSBC

Staying but has curtailed Russian access to capital markets

Hyundai 

Has halted production due to lack of parts

JP Morgan

Has curtailed Russian access to capital markets

Kellogg’s

The breakfast cereal manufacturer behind Corn Flakes and Coco Pops says it has suspended “all shipments and investments” into Russia.

But the company, which also makes Pringles, has three factories in the country and continues to sell products there. 

Kraft Heinz 

But has suspended imports and exports, and all new investment

Marks & Spencer

In discussions about exit with franchisee

Mazda

Has suspended shipments to Russia

Mondelez

The maker of Cadbury Dairy Milk chocolate bars said it is scaling back all non-essential activities in Russia but it will keep “helping maintain continuity of the food supply”.

Mondelez, previously part of Kraft Foods, has owned Cadbury since 2010 and is also behind Alpen, Oreos and TUC biscuit brands.

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