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    Which companies are still operating in Russia? Koch Industries and Subway on list of 27 businesses defying exit

    Nearly 30 companies are "digging in," defying public demands to exit Russia or reduce their activities in the pariah state, according to a list kept by a professor with the Yale School of Management.


    All of the companies still doing business in Russia


    March 17, 2022 9:47 PM UTC

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    Nearly 30 companies are "digging in," defying public demands to exit Russia or reduce their activities in the pariah state, according to a list kept by a professor with the Yale School of Management.

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    Among those operating undeterred: Authentic Brands' Reebok, Halliburton, Koch Industries, LG Electronics, and Subway, which has nearly 450 franchised locations in Russia.

    The list, launched several days after Russia's invasion of Ukraine, is "updated continuously" by Jeffrey Sonnenfeld, senior associate dean for leadership studies at the Yale School of Management, and his research team in a bid to "reflect new announcements from companies in as close to real time as possible."

    On Thursday, Bloomberg reported that Kansas-based Koch Industries "will continue to operate its two glass manufacturing facilities in Russia," citing a Wednesday statement from Koch President and COO Dave Robertson that acknowledged the decision, affecting about 600 Guardian Industries employees.

    "We have no other physical assets in Russia, and outside of Guardian, employ 15 individuals in the country," Robertson wrote. "While Guardian's business in Russia is a very small part of Koch, we will not walk away from our employees there or hand over these manufacturing facilities to the Russian government so it can operate and benefit from them (which is what The Wall Street Journal has reported they would do)."

    "Doing so would only put our employees there at greater risk and do more harm than good."

    Since the initial publication of the list during the week of Feb. 28, Sonnenfeld and fellow researchers have revised their categorization method. In a March 16 article for Fortune, Sonnenfeld acknowledged that the initial "naughty and nice list ... smoothed over some of the complexities related to these companies' exits from Russia."

    The revised list includes four categories: "withdrawing all business," "suspending operations," "reducing activities," and "economic collaboration."

    There is no excuse for companies in the fourth, last, category, Sonnenfeld wrote for Fortune, which fell from 34 businesses Wednesday to 27 Thursday.

    "Worst of all are the companies in category #4 that continue in Russia unabated," he wrote. "Oil servicers such as Halliburton and Schlumberger remain economic collaborators despite U.S. sanction. I met Jean Riboud, the legendary former Schlumberger CEO who over several decades built Schlumberger into being the largest in the industry, a company that under his leadership was considered the best managed firm in the world. A Buchenwald Holocaust survivor and fighter in the resistance against the Nazis, Riboud, who died in 1985, would not recognize his firm today."

    Those 27 companies "defying demands for exit or reduction of activities," as of Thursday, per Sonnenfeld's list:

    Accor Air Products Asus Auchan

    Authentic Brands Group - Reebok

    Baker Hughes BBDO Group Cargill Cloudflare DDB Decathlon Greif Gruma Halliburton International Paper IPG Photonics Koch Industries Leroy Merlin LG Electronics Metro Nalco Natura and Company Omnicom Media Group Oriflame Cosmetics Pirelli Schlumberger Subway Young Living

    One-hundred and fifty companies have made what Sonnenfeld calls a "clean break/surgical removal/resection" from Russia as of March 17. They include:

    Activision Blizzard Airbnb Alaska Airlines Aldi American Airlines Bumble Deloitte Delta Air Lines Exxon FIFA Formula One Nasdaq Netflix Radio Free Europe Swarovski TJ Maxx TripAdvisor Uber United Airlines

    One hundred and eighty companies were "keeping options open for return as of March 17, according to the list. They include:

    3M Adidas Adobe ADP Amazon American Express Bank of China Bridgestone Tire Cisco Citrix Clorox Deutsche Bank DHL Discover Disney FedEx Ford GM Harley-Davidson Honda HP IBM Intel Lego Mastercard Mercedes-Benz Meta Microsoft Nintendo Nissan Oracle Paypal Prada Rolls Royce Starbucks TikTok Toyota Twitter Under Armour UPS YouTube

    Eighty companies were "reducing current operations/holding off new investments," per the list, including:

    Abbott Labs Bacardi Coinbase Colgate-Palmolive Credit Suisse

    Source : fortune.com

    These companies continue to do business in Russia

    Although public pressure is building on major businesses to exit the country, a number of prominent players remain.

    These companies continue to do business in Russia


    UPDATED ON: MARCH 18, 2022 / 11:14 AM / MONEYWATCH

    The list of companies continuing to operate in Russia is shrinking by the minute, but several dozen corporations including multinational manufacturers and fast-food chains are still doing business in the country despite intense public pressure to withdraw over its invasion of Ukraine.

    McDonald's was among the big-name companies to announce last week that it would temporarily close its 850 restaurants in Russia. Cola-Cola and PepsiCo quickly followed suit, as did restaurant chains Burger King, Papa John's, Little Caesars and others.

    Deutsche Bank on March 11 announced that it was "winding down" its business in Russia. The German financial giant had drawn fire for initially saying it intended to continue some of its activities in the country.

    Bridgestone as of Friday also will suspend activity at its sales offices and manufacturing at its tire plant in Ulyanovsk, Russia, but continue to pay its more than 1,000 workers in the country. It's also freezing new investments in and halting exports to Russia, it said.

    The decisions to withdraw or suspend operations come amid menacing warnings by Russian prosecutors that existing companies could see their assets seized and top executives critical of the government could face arrest, the Wall Street Journal reported, citing people familiar with the matter.

    Caterpillar cited "supply chain disruptions and sanctions" for its March 9 decision to suspend operations at its Russian manufacturing facilities. "We recognize this is a time of incredible uncertainty for our valued employees, and we will continue to look for ways to support them," the maker of construction and mining equipment stated.

    The Peoria, Illinois-based company opened its first office in Russia in 1973, and has a parts distribution facility in Moscow and a manufacturing plant in Tosno, near Saint Petersburg. Russia accounts for 8% of Caterpillar's annual revenue, or approximately $4 billion, according to Yale University management professor Jeffrey Sonnenfeld.

    Twenty-seven large companies are digging in, defying demands to exit or reduce activities in Russia, according to a running tally updated daily by Sonnenfeld and his team.

    The goal of calling out the companies is to pressure them to work in concert with the U.S. government and its allies that have imposed economic sanctions against Russia, Sonnenfeld told CBS News. Government sanctions "rarely succeed completely alone — they need fairly universal support of the business community to truly paralyze an economy as intended," he said.

    For example, starting in the 1980s the combination of economic sanctions and a widespread corporate pullout from South Africa, led by General Motors, helped undermine the country's apartheid system of institutionalized racial segregation, Sonnenfeld said. He also said he's been hearing from CEOs frustrated with boards "caught in a 1990s mind warp, where we thought, 'Well, we're going to have to find a middle ground here.'"

    "There's no middle ground here," the professor said of Russia's war in Ukraine.

    Companies voicing "humanitarian concerns for the general Russian citizenry" are missing the point of the sanctions, which only succeed when the "tyrant is no longer a successful totalitarian," Sonnenfeld added.

    Still there, doing business

    Large businesses choosing to maintain their presence in Russia include Illinois-based Abbott. Among companies condemning the war, Abbott on March 4 said it would donate $2 million to humanitarian groups offering relief in Ukraine. The multinational medical devices and health care company made no mention of Russia or Abbott's operations in the country in its initial statement.

    The company, which does business in more than 160 countries, on March 14 said it was suspending non-essential business activity in Russia, including new investments, business development and advertising. Abbott will still provide health care products "including life-sustaining medicines for cancer and organ function," as it says the medical category is "generally exempt from sanctions for humanitarian reasons."

    Other pharmaceutical companies like Pfizer, Germany's Bayer and Eli Lilly have taken the same route, halting non-essential operations in Russia but continuing to supply medications for diseases such as diabetes and cancer, Reuters reported.

    Ukrainian President Volodymyr Zelensky has urged pharmaceutical companies to follow others and exit Russia completely, the wire service noted. The call is backed by Yale's Sonnenfeld.

    "There are few ways for Western pharma companies to gauge what is being produced and for what purposes by their Russian subsidiaries. Hitler had a history of tampering and redirecting domestic R&D facilities — and it is all too easy to imagine Putin someday following the same playbook on biowarfare, just as he is following the Hitler playbook in crimes against humanity and targeting of innocent civilians," Sonnenfeld wrote in a commentary co-authored with Steven Tian and published by Fortune magazine.

    But Reuters noted that some of the drug companies are backed by shareholders. "I don't think the people should suffer for the actions of the Russian government," Josh Brockwell, an investment executive at Azzard Asset Management, said in voicing his support for Pfizer's decision to keep supplying Russia.

    Source : www.cbsnews.com

    Companies that are still doing business in Russia — Quartz

    No major pharmaceutical or medical device maker has announced plans to shutter manufacturing plants or halt sales inside Russia.


    Which companies aren’t exiting Russia? Big Pharma


    No major pharmaceutical or medical device maker has announced plans to shutter manufacturing plants or halt sales inside Russia.

    By Sarah Varney & Kaiser Health News

    Published March 11, 2022

    Even as the war in Ukraine has prompted an exodus of international companies — from fast-food chains and oil producers to luxury retailers — from Russia, US and global drug companies said they would continue manufacturing and selling their products there.

    Airlines, automakers, banks, and technology giants — at least 320 companies by one count — are among the businesses curtailing operations or making high-profile exits from Russia as its invasion of Ukraine intensifies. McDonald’s, Starbucks, and Coca-Cola announced a pause in sales this week.

    But drugmakers, medical device manufacturers, and health care companies, which are exempted from U.S. and European sanctions, said Russians need access to medicines and medical equipment and contend that international humanitarian law requires they keep supply chains open.

    “As a health care company, we have an important purpose, which is why at this time we continue to serve people in all countries in which we operate who depend on us for essential products, some life-sustaining,” said Scott Stoffel, divisional vice president for Illinois-based Abbott Laboratories, which manufactures and sells medicines in Russia for oncology, women’s health, pancreatic insufficiency, and liver health.

    Johnson & Johnson — which has corporate offices in Moscow, Novosibirsk, St. Petersburg, and Yekaterinburg — said in a statement, “We remain committed to providing essential health products to those in need in Ukraine, Russia, and the region, in compliance with current sanctions and while adapting to the rapidly changing situation on the ground.”

    The reluctance of drugmakers to pause operations in Russia is being met with a growing chorus of criticism.

    Pharmaceutical companies that say they must continue to manufacture drugs in Russia for humanitarian reasons are “being misguided at best, cynical in the medium case, and outright deplorably misleading and deceptive,” said Jeffrey Sonnenfeld, a professor at the Yale School of Management who is tracking which companies have curtailed operations in Russia. He noted that banks and technology companies also provide essential services.

    “Russians are put in a tragic position of unearned suffering. If we continue to make life palatable for them, then we are continuing to support the regime,” Sonnenfeld said. “These drug companies will be seen as complicit with the most vicious operation on the planet. Instead of protecting life, they are going to be seen as destroying life. The goal here is to show that Putin is not in control of all sectors of the economy.”

    U.S. pharmaceutical and medical companies have operated in Russia for decades, and many ramped up operations after Russia invaded and annexed Crimea in 2014, navigating the fraught relationship between the U.S. and Russia amid sanctions. In 2010, Vladimir Putin, then Russian prime minister, announced an ambitious national plan for the Russian pharmaceutical industry that would be a pillar in his efforts to reestablish his country as an influential superpower and wean the country off Western pharmaceutical imports. Under the plan, called “Pharma-2020” and “Pharma-2030,” the government required Western pharmaceutical companies eager to sell to Russia’s growing middle class to locate production inside the country.

    Pharma companies operating in Russia

    Pfizer, Johnson & Johnson, Novartis, and Abbott are among the drugmakers that manufacture pharmaceutical drugs at facilities in St. Petersburg and elsewhere in the country and typically sell those drugs as branded generics or under Russian brands.

    Pfizer’s CEO, Albert Bourla, said on CBS that the giant drugmaker is not going to make further investments in Russia, but that it will not cut ties with Russia, as multinational companies in other industries are doing.

    Pharmaceutical manufacturing plants in Kaluga, a major manufacturing center for Volkswagen and Volvo southwest of Moscow, have been funded through a partnership between Rusnano, a state-owned venture that promotes the development of high-tech enterprises, and U.S. venture capital firms.

    Russia also has sought to position itself as an attractive research market, offering an inexpensive and lax regulatory environment for clinical drug trials. Last year, Pfizer conducted in Russia clinical trials of Paxlovid, its experimental antiviral pill to treat covid-19. Before the invasion began in late February, 3,072 trials were underway in Russia and 503 were underway in Ukraine, according to BioWorld, a reporting hub focused on drug development that features data from Cortellis.

    AstraZeneca is the top sponsor of clinical trials in Russia, with 49 trials, followed by a subsidiary of Merck, with 48 trials.

    So far, drugmakers’ response to the Ukraine invasion has largely centered on public pledges to donate essential medicines and vaccines to Ukrainian patients and refugees. They’ve also made general comments about the need to keep open the supply of medicines flowing within Russia.

    Source : qz.com

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