'The situation has compelled us to reassess our operations in Russia': U.S. companies curb business with Russia in response to invasion

Economics
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Apple recently announced that it would stop all product sales in Russia. | Jan Vašek/Pixabay

Russia's invasion of Ukraine has drawn unprecedented sanctions from western nations, and private companies have increasingly been acting independently to give the message to Russia that they do not support the invasion of Ukraine.

The long list of private companies denouncing the invasion include Apple, which announced Tuesday that it would stop all product sales in Russia, according to Reuters.

"We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence," Apple said in a statement announcing a pause in sales in Russia and other measures, including limiting Apple Pay and dropping the ability to download RT News outside of Russia.

Apple was not alone in its sanctions of Russia. Reuters reports that Google removed Russian state publishers from its news, Harley-Davidson suspended business and bike shipments to Russia, and Ford Motor Co. told its Russian manufacturing partner that it was suspending operations in the country.

"Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability," a spokesperson for Ford said, according to Reuters. "The situation has compelled us to reassess our operations in Russia."

MSC and Maersk suspended container shipping to and from Russia. Russia is the world's 11th-largest economy and supplies one-sixth of all commodities, according to Reuters.

Nike made the decision to stop purchases in Russia due to concerns over guaranteeing delivery, according to Reuters.

Visa and Mastercard blocked multiple Russian financial institutions from using their services. Volvo, General Motors and Jaguar Land Rover have ceased exports to Russia. BMW made a similar move, while also discontinuing local production.

The U.S. has restricted exports of tech hardware, including computers, sensors, lasers, navigation tools, telecoms, aerospace and marine equipment. This has resulted in companies like Dell suspending sales.