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Report: Many large companies that vowed to leave Russia are still active there

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After Russia’s unprovoked invasion of Ukraine, company after company worldwide announced intentions to leave the market. Some had larger toeholds than others, but public pressure eventually forced hundreds to make a clean break, according to the list maintained by Yale School of Management professor Jeffrey Sonnenfeld.

A new investigation released Tuesday, however, asserts that many companies that pledged to stop doing business in Russia have not fully withdrawn.

The report, by a British organization called Moral Rating Agency founded in the invasion’s aftermath, evaluated the world’s top 200 companies. Of the 114 active in Russia when Ukraine was invaded, the organization says only seven companies (6%) have exited fully. Forty-four (39%)—many of them based in China—made no announcement at all.

But 63 (55%) fell somewhere in between, withdrawing in part—but not completely—making them the target of MRA’s report. “Many of them claim they have cut ties with Russia but in fact continue with some activities or fail to follow through with promises,” the group says, a practice it refers to as........

© Fast Company

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