WOOD Flash – Russian equities: which global companies have suspended their operations in Russia?

Following Russia’s invasion of Ukraine, the US, the EU, the UK and many other leading economic nations have imposed severe sanctions on the Russian economy. In this flash note, we provide a list of companies that have decided to either suspend sales to/in Russia, and/or suspend all operations in the country. We have collected the data from public sources; however, as the situation remains fluid, the list is not complete and it may expand over time. So far, we have identified at least 58 companies that have changed their operations in Russia. Moreover, there are media reports that global commodity traders are wary of picking up commodities from Russia, due to payment and other sanctions-related risks. A number of energy companies have announced their plans to exit or suspend investments in Russian projects, including Shell, BP, ExxonMobil, ENI and TotalEnergie. This flash note focuses primarily on non-resource companies, and we plan to tackle the situation in the energy/metals & mining sector separately. We continue to monitor the situation, and we will provide further updates in due course.