More than 1,200 multinational companies have curtailed or abandoned business ties with Russia, in the wake of Vladimir Putin’s invasion of Ukraine, according to data assembled by the Yale School of Management. Its authoritative list of businesses, updated weekly, plays a key role in the praising and shaming of companies that have, or have not, taken political action in Russia.
Why does this matter? Beyond ethics, recent research shows that financial markets are rewarding companies for leaving Russia while punishing those that remain, with consumers taking a similar stance.
Go deeper with GlobalData
Brussels has been one of the most critical voices against Putin’s invasion of Ukraine. But several EU nations have not toed the party line.
It may come as no surprise, therefore, that Hungary is the EU member that has seen its businesses withdraw from Russia the least – since Viktor Orban is, by far, the least critical EU leader towards Russia. Similarly, Serbia (albeit a non-EU country) has also seen very little business action since its leader, Aleksandar Vučić, is the most pro-Putin advocate on the European continent.
After Hungary, companies from Slovenia, Austria, France and Italy (in the order) have been the next slowest movers among the EU.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEU-based companies that are avoiding political action may believe they are taking economic advantage of the situation. However, as previously mentioned, the wrath of markets and consumers remains strong, especially in the West. Inaction is unlikely to pay off.
