official Top Largest Companies That Have Exited From Russia (65+)

[Daniel]

After the invasion of Ukraine by Russia, many companies are exiting or cutting their investments in Russia. This article will show you the top companies that confirmed to pull out of Russia.

On top of that, companies worldwide are not sitting on the fence and have united in suspending their services in Russia or even closing their branch entirely from there until further notice.

Here, we have summarised some of the largest companies that have pulled out of Russia after the invasion:

Energy

The gas and oil industry was the first to cut ties with Russia after the invasion.

British Petroleum (UK)  has been under pressure from the UK government to make a move in response to the invasion begun by the Russian military on Thursday at Putin’s behest. “This military action represents a fundamental change,” said Helge Lund, BP’s chairman, in a statement. BP has owned shares in the Russian company since 2013. According to Reuters, the move could cost it anywhere from $14 billion to $25 billion.

Exxon Mobil’s (USA)  exit was particularly noteworthy. The oil company has a long history of close ties to Russia, even as its footprint in the country has shrunk in recent years. “ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their future as a nation,” the company said in a statement. “We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people.”

Shell (UK) is due to leave its associations with Russian state-owned firm Gazprom, a day after BP said it would give up its stake in Kremlin-owned oil company Rosneft. According to a press release quoted by Reuters, Shell plans to exit its ventures with Gazprom and related entities. It said that the company would also end its involvement in the Nord Stream 2 gas pipeline project. The move could cost the company roughly $3 billion in assets.

--> Check all the 65 companies that exited Russia so far