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Corporate demur against Russia Google, Ford, Apple join the wave

March 2 – Some of the most well-known American companies including Apple, Google, Ford, Harley-Davidson and Exxon Mobil have condemned and denounced Russia for its attack on Ukraine, under strong pressure from investors and consumers to criticize the violence.

Apple Inc (AAPL.O) late Tuesday said it had stopped selling iPhone and other products in Russia, adding that it was making changes to its Maps app to protect Ukrainian citizens.

Technology companies including Alphabet Inc’s (GOOGL.O) Google have excluded Russian publishers from their news, and Ford Motor (F.N) – which has three industries affiliated with Russia – has told its Russian production partner to suspend operations in the country. Motorcycle manufacturer Harley-Davidson Inc has suspended the shipment of its bicycles.

Exxon Mobil Corp (XOM.N) has said it will suspend operations in Russia and take steps to withdraw from the Sakhalin-1 business, following in the footsteps of Britain’s largest power companies Shell Plc (SHEL.L) and BP, Russia’s largest foreign investment.

Many companies have been unusually clear in their criticism of Russia.

“We are deeply concerned about the Russian invasion of Ukraine and stand by all the people affected by the violence,” Apple said in a statement.

The drum beat of the participating companies has escalated over the course of the day as rockets hit major Ukrainian cities. Learn more

“Ford is deeply concerned about the Ukrainian invasion and the threats to peace and stability. This situation has forced us to re-evaluate our operations in Russia,” Ford said, adding in a few days the announcement of car companies around the world.

“We condemn Russia’s military action which violates the integrity of Ukraine’s territory and endangers its own people,” Exxon said, adding that no new investment would be made in Russia.
The Harley-Davidson logo appears on a motorcycle at a shopping center in Queens, New York City
Logo at Apple store in Washington, U.S.
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan

Boeing (BA.N) has suspended parts, maintenance and technical support services for Russian airlines, a Politico journalist wrote on Twitter. An American aircraft manufacturer has suspended major operations in Moscow and will temporarily close its office in Kyiv, a tweet said. Boeing did not immediately respond to a request for comment.

The restrictions from Western countries hit the Russian economy hard, with the ruble dropping almost a third of the record low. Financial divisions are increasing as shipping companies say they will not operate in Russian ports.

The US government is expected to block Russian flights from U.S. airspace soon Wednesday, government officials and industry officials told Reuters. Learn more

And the increase in investors’ interest in environmental, social and governance (ESG), makes it even more difficult for those companies sitting on the sidelines.

Russian companies are particularly vulnerable to such Western investors, as they are often open to negotiations to change their behavior, says TJ Kistner, vice president of Segal Marco Advisors, a senior U.S. pension adviser.

Western investors may respond by withdrawing. “The only way most people can do it is to back off,” Kistner said.

Moscow has responded by temporarily baning foreign investors from selling Russian goods.

Big Tech companies are also continuing efforts to stop Russian troops from using their products.

Apple said it had blocked downloads of applications from other government-sponsored news services outside of Russia.

Microsoft (MSFT. Google has blocked RT and other Russian channels from earning revenue from ads on YouTube websites, apps and videos, such as Facebook (FB.O) traffic.

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