How companies are making a stand in Ukraine

On February 24, 2022, the lives of Ukrainians changed forever. The Russian invasion of Ukraine is taking lives, destroying the economy and negatively affecting the mental, financial and social well-being of the population.

While the Ukrainian Armed Forces and Terror Defense Forces perform real feats hourly – protecting Ukraine from the advance of the aggressor’s army, destroying Russian combat units and repelling captured cities, towns and strategic points – another war with the enemy is going on in the world. 

This is an economic war. And Russia has suffered an unbelievable defeat. Putin’s actions have alienated even his loyal associates in Europe. The financial world reacted strongly to the horrific events in Ukraine. Since the invasion began, more than 1,000 companies have publicly announced they are voluntarily curtailing operations in Russia beyond the bare minimum legally required by international sanctions. Some of them announced their complete withdrawal and closed their doors. Others suspended their business or abandoned their planned investments. In contrast, others continued to work as usual and sell their goods or provide services to Russians, paying taxes to the budget of the occupiers.