Sony, Uniqlo Join Global Brands Disappearing From Russia
- Many suspend business as sanctions curb ability to operate
- Ukraine war is reversing three decades of foreign investment
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Sony’s Playstations, Uniqlo attire, McDonald’s burgers. The list of global brands disappearing from Russian outlets keeps growing as some of the world’s biggest businesses, from energy to consumer goods and electronics, suspend operations in the country.
International sanctions, the closure of airspace and transport links, financial restrictions on SWIFT and capital controls have made it difficult if not impossible for many companies to supply parts, make payments and deliver goods in Russia. Added to that, the potential consumer backlash against any company perceived as supporting Vladimir Putin’s two-week-old invasion of Ukraine has turned the corporate exodus into a stampede.