A few more tech companies do full business in Russia

Some companies, also from the tech sector, still do business exclusively in Russia, despite the fact that many (big) tech companies have stopped after Russia’s invasion of Ukraine, where many people were killed and infrastructure destroyed. This is reported by the Yale Chief Executive Leadership Institute (CELI), which notes which international companies are leaving or staying out of Russia.

Companies continuing business-as-usual in Russia, according to CELI, include Check Point Software, Alibaba, ANT Group, AnyDesk Software, Cadence, Cloudflare, Fujifilm, Honor, Micro-Star International (MSi), OKI, Tencent, Semiconductor Manufacturing International Corporation and ZTE.

Some companies stop new investments but stay in Russia, such as BlaBlaCar, Huawei (which suspends new orders and lays off some of its employees), Ingram Micro (does not do new business in Russia), Lenovo (reports to close operations in Russia), suspend ) and Mavenir.

There are also companies that scale back some key business activities but continue others. They are Activision Blizzard (suspended sales of new games in Russia), Adobe (suspended all new sales in Russia and Belarus; current services continue), Alphabet (withdraw all operations in Moscow; stop accepting new customers; stop ads), Amadeus IT Group (cooperation with Aeroflot suspended), Avaya (restricted certain services; stop new maintenance and support schemes), Esri (restrict sales to Russia; no information about Russian office), Microsoft (suspend new sales in Russia, but continue existing access) , Miro (closes Moscow office and pauses new sales), Okta (discontinues new sales to Russia but continues to support existing customers), Sabel (suspends certain partnerships with Aeroflot), SAP (stops all sales to Russia and closes cloud -operation but some opt-outs), Shutterstock (does not accept new contributors from Russia; continue current business and still provide services to Russia), Spotify (closed office and suspend service, m one still allow Kremlin-linked artists like Gazmanov and Gagarina), TomTom (disabling live traffic for Russia, disconnecting several Russian clients, some clients still under audit).

Invasion

CELI reports on its website: “Since the invasion of Ukraine began, we have followed and are still counting the responses of more than 1,200 companies. More than 1,000 companies have publicly announced that they are voluntarily curtailing their activities in Russia to some extent. above the bare minimum required by law under international sanctions – but some companies have continued to operate in Russia undaunted. Originally a simple “withdraw” vs “stay” list, our list of companies now consists of five categories – ranked by school AF -style letter scale for completeness of retraction. The list is continually updated by Jeffrey Sonnenfeld and his team of experts, research fellows and students at the Yale Chief Executive Leadership Institute to reflect new company announcements as close to real time as possible. Our list has already received extensive attention for its role in the catalyst and on the mass emigration of companies from R usland.

When this list was first published the week of February 28, only a few dozen companies had announced their departure. We are humbled that in the two months since, our list has seen almost 1,000 companies withdraw. While we are pleased that our list has been widely circulated in boardrooms, government officials and the media as the most authoritative and comprehensive account of this powerful, historic movement, we are most inspired by the thousands of messages we have received from readers around in the world, especially those from Ukraine, and we continue to welcome your tips – preferably with documentation – as well as your insight and feedback on [email protected]. For a sortable, detailed version of the list below, visit our extensive database where you can filter companies by letter grade, country, sector and more.

Click here to watch President Zelenskyy’s interactive Q&A, hosted by Jeffrey Sonnenfeld and streamed live by CNBC, with over 150 top US CEOs at the Yale CEO Summit in June 2022, and click here to read about President Zelenskyy’s key lessons for business leaders.

Click here to read our latest SSRN working paper on financial markets’ response to our list showing that investors are punishing companies that stay in Russia.

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