Coalition
for
Ukraine
A personal note:
I'm a tech entrepreneur and concerned citizen trying to support Ukraine. I hope to rally suppport for companies pulling out of Russia, and add pressure on those that still remain, by providing you info to share in social media. Thank you for your support! - Alex Algard
CORPORATIONS SUPPORTING UKRAINE:
An Accounting of Who's Pulling Out and Who's Continuing Business With Russia
The brutal Russian invasion of Ukraine is being fought on many fronts, including the economic front. Corporations have made various announcements regarding Ukraine and Russia, but what are their actual actions to help prevent more bloodshed? As of November 23, we are tracking 1217 companies, of which 953 are pulling out of Russia, and 264 holdouts (highlighted in red) are mostly continuing to do business as usual in Russia. Review the list, take action (here and directly), tweet and share!
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LIST OF COMPANIES
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| Company | Headquarters | Action | |
|---|---|---|---|
 | Abrdn HQ: UKFinance | February 24: Liquidated Russia exposed funds | |
 | Adenza HQ: UKFinance Tech | March 9: Discontinued all Russia operations, terminated relationships with Russian customers (120 employees) | |
 | Aegon HQ: NetherlandsFinance | November 30: Will not make future investments in Russia, will look at options to reduce its existing investment exposure (Two minor investment positions left, representing EUR 660,000) Listed on: Forbes Global 2000 | |
 | Allianz HQ: GermanyFinance | May 19: Sold majority stake in its Russian operation after ceasing new insurance business Listed on: Forbes Global 2000 World's Most Ethical Companies (Ethisphere) | |
 | AM Best HQ: USAFinance | March 29: Suspended all commercial activities to clients in Russia and has withdrawn all Credit Ratings on Russia-based (re)insurance companies | |
 | American Express HQ: USAFinance Payments Payments | March 6: Suspended all operations in Russia- Globally issued cards will not work in Russia, local Russian cards will not work outside the country Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | ANT Group HQ: ChinaTech Finance | No statement regarding Russia operations. Operates in Russia through a joint venture with Mail.ru Group, Russian sovereign wealth fund RDIF, the USM holding company and Megafon | |
 | Aon PLC HQ: UKFinance | March 10: Suspends Business Operations In Russia | |
 | Asian Infrastructure Investment Bank HQ: ChinaFinance | March 3: Pausing and reviewing activities relating to Russia and Belarus. | |
 | Assicurazioni Generali HQ: ItalyFinance | March 3: Winding down its Europ Assistance operations in Russia, Resigned board positions held on Ingosstrakh Insurance Co. and closing its Moscow representative office | |
 | Axa HQ: FranceFinance | March 1: Stopped underwriting new insurance business in Russia. Removed its directors from Reso Garantia, a Russian insurance company partly owned by Axa Listed on: Forbes Global 2000 | |
 | Axa IM HQ: FranceFinance | March 27: Divesting from Russian sovereign and government-related debt. Suspended new investments in Russian Listed on: Forbes Global 2000 | |
 | Banco Santander SA HQ: SpainFinance | March 7: Santander has a negligible to Russia. Will not engage in any new business with Russian companies Listed on: Forbes Global 2000 | |
 | Bank of China HQ: ChinaFinance | ||
 | Bank of Cyprus HQ: CyprusFinance | ||
 | BlackRock HQ: USAFinance | September 9: Suspends all purchases of Russian securities among its index funds Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | Blackstone HQ: USAFinance | March 11: Suspended all purchases of Russian assets (clients held $18.2billion in Russian assets in January), withdrew from Russia following the Crimea invasion | |
 | Bloomberg HQ: UKFinance | March 28: Suspended its operations in Russia- restricted access to any of Bloomberg’s financial products, suspended the work of its journalists | |
 | BNP Paribas HQ: FranceFinance | June 30: Set to liquidate suspended Europe Emerging Equity fund on 3 July. Informed its corporate clients in Russia that it would no longer process their transactions. Stopped all new business in Russia. (Exposure to Russia €1.3billion and less than 500 employees) Listed on: Forbes Global 2000 | |
 | BNY Mellon HQ: USAFinance | March 17: Ceased new banking business in Russia- corporate trusts work, treasury services, depository receipt services and direct lending to companies in Russia. Also suspended investment management purchases of Russian securities | |
 | China Construction Bank HQ: ChinaFinance | ||
 | China Life Insurance Company HQ: ChinaFinance | March 4: Will continue to operate in Russia. China has said it will continue to have normal trade and economic relationship with Russia | |
 | Citibank HQ: USAFinance | September 5: Set to halt ATMs in Russia. Announced expanded scope of process to exit its business from Russia Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | Coinbase HQ: USAFinance | March 7: Blocked more than 25,000 wallet addresses related to Russian individuals or entities it believes to have engaged in illicit activity. Listed on: Forbes Global 2000 | |
 | Commerzbank HQ: GermanyFinance | March 12: Stopped new business and winding down transactions Listed on: Forbes Global 2000 | |
 | Credit Agricole HQ: FranceFinance | January 13: Stopped all new financing for russian companies and all commercial activity in the country Listed on: Forbes Global 2000 | |
 | Credit Suisse HQ: SwitzerlandFinance | August 15: UBS stopped new business in Russia while cutting exposure by 56% Listed on: Forbes Global 2000 | |
 | Currency.com HQ: GibraltarFinance | April 17: Halting operations for Russian residents | |
 | Deutsche Bank HQ: GermanyFinance | July 10: Winding down remaining software centers in Moscow and St. Petersburg and plans to cut 500 jobs. Listed on: Forbes Global 2000 | |
 | Discover & Diners Card HQ: USAFinance Payments | March 8: No longer pursuing operations in Russia and Belarus | |
 | FICO HQ: USAFinance | March 18: Exited all work in Russia | |
 | Fitch Ratings HQ: USAFinance | March 25: Suspended operations in Russia and downgrades Long-Term Foreign Currency IDR to 'C' | |
 | FM Global HQ: USAFinance | April 8: Stopped renewing reinsurance business and ceased underwriting new reinsurance business with Russian insurers | |
 | Goldman Sachs HQ: USAFinance | August 8: Leaving Russia and winding down their Russian operations. Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | Groupe BPCE HQ: FranceFinance | April 13: Continues to operate with a local team of 34 people, managing residual credit portfolios. Little exposure in Russia (788 million Euros, compared to global exposure of 889 billion Euros) | |
 | Haniel HQ: GermanyFinance | ||
 | Hannover Re HQ: GermanyFinance | ||
 | Hellenic Bank HQ: CyprusFinance | March 15: Continuing operations in its two representative offices in Russia (Deposits related to Russian and Ukrainian customers account for about 8%) | |
 | HSBC HQ: UKFinance | March 28: Exited Russian market through sale of assets to Russia’s Expobank Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | ICBC HQ: ChinaFinance | ||
 | IGP&I HQ: UKFinance | ||
 | ING NV HQ: NetherlandsFinance | March 2: No new business with Russian companies | |
 | Intercontinental Exchange HQ: USAFinance | March 3: Halted trading of Russian-backed stocks and prohibited Russia from raising new capital | |
 | Intesa Sao Paulo HQ: ItalyFinance | August 10: Agreement on transfering ownership of Russian business to local management is reportedly close Listed on: Forbes Global 2000 | |
 | Intuit HQ: USAFinance Tech | July 28: Suspended all customer accounts in Russia Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | JCB HQ: JapanFinance Payments | March 8: Reported to sell JCBs in Russia, and offering credit from Gazprombank Autoleasing, an arm of Russian bank Gazprombank. Official statement suggests all operations and exports of machines and parts in Russia were stopped in March 2022 | |
 | JP Morgan HQ: USAFinance | August 5: Winding down business in Russia. JP Morgan handled some grain export payments with Russian counterparties (with the support of the US government) Listed on: Forbes Global 2000 World's Most Admired Companies (Fortune) | |
 | Julius Baer HQ: SwitzerlandFinance | July 25: Plans to end business with Russia based clients. Halted all new business in Russia, reduced its local activities (Operates out of office in Moscow) Listed on: Forbes Global 2000 | |
 | KLP HQ: NorwayFinance | February 28: Completely sold out of Russia, excluded 22 companies (Value of Assets: $56.39 million) | |
 | Kotak Mahindra Bank HQ: IndiaFinance | March 23: Denied financial transactions in or to Russia using cards on the Mastercard or Visa network Listed on: Forbes Global 2000 |
COALITION
FOR
UKRAINE
HOW YOU CAN HELP
REPORT
Do you know a company still operating in Russia?
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FAQ
Why does it matter whether or not companies pull out of Russia?
These companies want to be on the right side of history in the eyes of their customers, employees, and shareholders. Their actions absolutely matter and will make a difference. The Kremlin cannot win this economic war, and the oligarchs of Russia are now starting to openly speak up against Putin.
What are your data sources?
We rely on the most authoritative sources available online, including public announcements by corporations and online media sources as attributed in the "source" column.
How do you define "pulling out of Russia"? If a company is not shutting down 100% of Russian operations, what threshold do you use?
Most companies that are withdrawing from the Russian market are not shutting down 100% of their Russian operations. We try to ascertain how material the pullback is relative to the company's overall business within Russia, and if it is a significant reduction, then we will give the company credit for it. Conversely, if a company has announced that it is shutting a portion of its Russian business, but we have determined that the affected businesses is in fact a relatively small portion of the overall business, then we will still call attention to the company needing to do more.
Am I hurting the average Russian citizen by encouraging businesses to leave?
Russia’s unprovoked invasion of Ukraine can be repulsed on the ground and through economic pressure. In fact, if the ground war slows to a stalemate, the economic war is increasingly important. We believe the most helpful way for us to take action is to urgently encourage major businesses to cease business ties with Russia. This economic pressure will help expedite an end to the war.
Who created this website and why?
Alex Algard, a tech entrepreneur, created this website, and he provides ongoing support for a professional team of web development, research, and data entry staff. As a concerned citizen, he felt compelled to do something in support of Ukraine.
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