These companies are staying the course in Russia, to their discredit.
Most private companies aren’t legally bound to exit Russia, but the PR is terrible if they stay.
The change in the political atmosphere in Russia under Putin seems to have caught Western corporate managements by surprise. That shouldn’t have happened. It was always clear that Russia’s post-Soviet economic and political landscape was unstable at best. Mikhail Gorbachev’s perestroika, or restructuring, yielded to financial lawlessness and the rise of a privileged class of oligarchs resembling organized crime capos.
The harvest has been a sudden rush to the exits that could mean the loss of billions of dollars in long-term investments., Putin acknowledged that the sanctions have caused hardship for Russians. Mondelez landed on Sonnenfeld’s “scaling back” category, but he doesn’t entirely accept its words. “Oreo cookies and Cadbury chocolates are important staples in my household, but they aren’t required for sustaining life in Russia,” he says. “Even if they were, they should be curtailed — none of this is about a soft landing for the Russians.”Russian-language web page
Russia’s oil and gas industry isn’t currently subject to the full panoply of international sanctions, but it’s dependent on those firms for drilling and production. The U.S. has banned imports of Russian petroleum products and forbidden U.S. companies to make new investments in the Russian industry; the European Union has also banned new capital investments.
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