As Vladimir Putin continues to assault Ukraine with bombs and nuclear missiles, more and more corporations are opting to stop business with Russia, at least on a temporary basis.
Big brands that have ceased trading with Russia 0vernight include Coca-Cola, PepsiCo, Starbucks and McDonald’s.
Last night, PepsiCo announced it was halting business with Russia, after beverage rival Coca-Cola did the same. PepsiCo – which has a larger production base in Russia than Coca-Cola – said it would suspend production and distribution of Pepsi-Cola, 7UP and other soft drink brands, as well as cease investments and advertising activity.
McDonald’s – which owns nearly 85 per cent of its stores in Russia outright – is also suspending operations in over 850 locations, although the brand says it will continue to pay its 62,000 employees.
“Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” said McDonald’s president and CEO Chris Kempczinski in an open letter to employees.
Starbucks said it is also stopping operations in Russia, promising to support the 2,000 partners in the nation who depend on the company for their livelihood.
Tik-Tok has also blocked usage in Russia until the Kremlin begins to act responsibly.
Other well-established brands that have pulled business from Russia due to the Kremlin’s appalling assaults on Ukraine include Netflix, Levi’s, Burberry, Ikea and Unilever.
It wasn’t very long ago that commercial brands began doing business with Russia. In 1991 the Soviet Union finally collapsed, officially ending the cold war and ushering in a new era of what ought to have been freedom, democracy and, yes, capitalism. Since then, the Soviet empire has dissolved into 15 republics that includes Ukraine, Georgia, Belarus, Armenia, and others.
Self-appointed forever-president Vladimir Putin has most recently attempted to claim the land of Ukraine, sending military to senselessly bomb parts of the republic while killing many of its citizens.
The world, of course, has responded in shock and disgust, with many businesses quickly ceasing operations with Russia to send the message that such horrific genocide is not acceptable.
Also overnight, the European Union announced that it is seeking to fully phase out its reliance on Russian energy “well before 2030”.
EU leaders are meeting in Versailles, France, for a two-day summit beginning tomorrow in which they will discuss ways to phase out dependency on Russian gas, oil, coal, and other imports.
Many Russian citizens have rushed to their banks to withdraw cash before a pending economic collapse in the country, shopping like crazy and panic-buying imported goods that look like not being supplied again until absolute ceasefire.