ARTICLE BY CODY ULIANNA, JOURNALISM STUDENT
Large numbers of companies have suspended their products in Russia, so they aren’t sold at the moment. Aside from probably the two of the biggest companies, Pepsi and Coca-Cola, here are some other brands that will no longer be selling in Russia and how much profit they will lose.
McDonalds has stated that they have temporarily suspended their 850 businesses due to shareholders saying they would not stand for generations of profit from Russia.
Following McDonalds shutting down, Starbucks has also stated that 100 of their coffee shops are being closed down temporarily. Nestle, which owns a massive amount of brands, also have halted their products to just bare essentials.
Not just the food and drink industry are suspending sales, the retail industry is also responding by shutting down their stores in Russia’s largest mall “Aviapark” at an estimated 390,000 square meters of space.
Those stores were closed as of March 11th with likely more that followed after.
The tech industry also took a big hit with Samsung no longer shipping to the country, but Samsung has not said whether it will close stores completely or not. Joining Samsung, Sony and Nintendo both suspended the delivery of shipping consoles. Another big company in Russia that is closing down its shops is Apple which has also limited its use of apps and features such as “Apple Pay” and “Apple Maps”.
Two Apps that are huge in Russia are Tiktok and Facebook. Facebook announced they are blocking their site in total and Tiktok is blocking all non-Russian content in Russia as well as blocking live streaming.
Now probably the biggest industry hit is the oil and gas industry, with both the US and UK announcing they are Banning or Curbing getting their oil and gas from Russia, according to the BBC.
Oil and gas prices are skyrocketing across the world with the current gas prices (April 11th) being at $4.219 a gallon for regular and $4.880 for premium.
It’s clear that these changes will have an impact not only on Russia but on the world as a whole.