Russia’s war spurs corporate exodus, exposes business risks
LONDON (AP) — Auto shipments stopped, beer stopped flowing, cargo ships dropped port calls and oil companies cut their pipelines.
Russia’s invasion of Ukraine has thrown business plans into disarray and forced a growing number of the world’s best known brands — from Apple to Ford and BP — to pull out of a country that’s become a global outcast as companies seek to maintain their reputations and live up to corporate responsibility standards.
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“You basically have Russia becoming a commercial pariah,” said economist Mary Lovely, a senior fellow at the Peterson Institute for International Economics in Washington. “Pretty much no company, no multinational, wants to be caught on the wrong side of U.S. and Western sanctions.”
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Complicating the push to flee is an order from Moscow temporarily restricting foreign investors from selling Russian assets.
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https://apnews.com/article/russia-ukraine-vladimir-putin-bus…