Are Big Businesses In or Out of Russia?
Summary
As Western governments ratchet up their economic punishments against Russia after it invaded Ukraine, the corporate world has paused or pulled out of operations there. But as the list of companies quitting Russia grows by the day, differences in the degree of disconnection are spurring debate. Companies that have paused operations or announced limited pullouts are coming under pressure to make a more definitive break: all or nothing, in or out. “The point is that we’re trying to starve the regime of their resources,” said Bill Browder, a hedge fund manager who worked in Russia and has long campaigned against corruption there. Some companies that initially said that they would remain in Russia backtracked within days, including Deutsche Bank and the retailer Uniqlo.
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