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Over 300 companies have stopped doing business in Russia following global economic pressure and to stand in solidarity with the people of Ukraine. But, many remain.

Yale University professor Jeffrey Sonnenfeld, and his team at the nonprofit Chief Executive Leadership Institute, compiled a list of firms refusing to boycott Russia, along with those that have ties but have not yet confirmed their withdrawal.

On Tuesday, Starbucks, Coca-Cola and McDonald's halted their business ties in Russia. The fast-food giant closed all 847 restaurants in the country in what some have declared a "hugely symbolic" move.

Coca-Cola then announced in a statement: "The Coca-Cola Company announced today that it is suspending its business in Russia,"

"Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine. We will continue to monitor and assess the situation as circumstances evolve," they added.

Other brands have come under immense pressure from competitors and masses of social media users, who demand they follow suit. Later on Tuesday, Pepsi followed Coca-Cola's lead and announced that they, too, would be halting business operations.

Despite the efforts from a significant number of firms and private companies that are stepping up to help Ukraine, Sonnenfeld revealed that 40 are still operating in the country. His list includes the likes of Mars, Marriott, Hilton, Nestle and Kimberly-Clark.

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In a statement to The Independent, Sonnenfeld said: "Almost nobody wants to be on the wrong side of history, but you do still see some honourable companies that are on the wrong side, they are not doing it out of greed, it is a mindset that is stuck in a cultural time-warp, they are living in an era of Perestroika, they were great commercial bridges in that time."

Since the release of his list, some have started to act.

  • Otis, which manufactures elevators and escalators, said in a statement, "We are monitoring developments carefully and will continue to adjust our operations and procedures in compliance with applicable laws and in order to continue to best serve all of our stakeholders in this challenging context."
  • Nestle said that the company had "halted all our advertising activities in Russia and we have decided to suspend all capital investment in the country." "As a food company and employer, we also have a responsibility toward the people in Russia and our more than 7,000 employees – most of whom are locals. We will continue to ensure a reliable supply of safe and essential food products to the local people in the country."
  • Financial services company Citi, said they were continuing their "efforts to exit our consumer banking business in Russia. As we work toward that exit, we are operating that business on a more limited basis given current circumstances and obligations."
  • Italian luxury goods company Ferragamo, said that they do "not operate directly in Russia. Its activities there are managed by a local distributor."
  • Pizza company Papa John's said it has now "suspended all corporate operations in Russia. It has ceased all operational, marketing and business support to, and engagement with, the Russian market, where all restaurants are owned by independent franchisees."
  • Equipment manufacturer John Deere, said that "Two weeks ago, we suspended shipments of machines to Russia and then subsequently, Belarus. We continue to monitor the situation closely while we fully abide by U.S. and international sanctions."
  • A Hyatt spokesperson said on Wednesday that the company had "made the decision to suspend our development activities and any new investments in Russia, effective immediately. "
  • InterContinental Hotels Group said it was closing its corporate office in Moscow and "suspending future investments, development activity and new hotel openings in Russia."
  • Whirlpool said that in Russia the company was "limiting production to provide essential goods for families who need our appliances to clean, cook and provide proper food and medicine storage in their homes."

Indy100 has reached out to all the companies on the Yale list as still doing business in Russia.

The Independent has a proud history of campaigning for the rights of the most vulnerable, and we first ran our Refugees Welcome campaign during the war in Syria in 2015. Now, as we renew our campaign and launch this petition in the wake of the unfolding Ukrainian crisis, we are calling on the government to go further and faster to ensure help is delivered.

  • To find out more about our Refugees Welcome campaign, click here.
  • To sign the petition click here.
  • If you would like to donate then please click here for our GoFundMe page.

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