Following the invasion of Ukraine and the imposition of sections by the US and its allies, global brands are scrambling to exit Russia.  

Here are some of the companies that have announced plans to shut operations:

• US payment companies Visa, Mastercard, American Express and PayPal are suspending operations in Russia. 

• BP, a British energy company, is abandoning its 19.75 percent shareholding in Russian oil giant Rosneft, a move that could result in a $25 billion write-off. 

• Shell, Europe’s largest oil company, said it would exit its joint ventures with Gazprom, the Russian natural gas giant, including the Sakhalin-II liquefied natural gas facility, and its stake in the Nord Stream 2 pipeline project. 

• ExxonMobil, one of world’s largest energy producers, is discontinuing operations at the Sakhalin-1 project and will not invest in new developments in Russia. 

• Equinor, Norway’s biggest energy company, is withdrawing from joint ventures in Russia, including with Rosneft.

• Apple, the most-valued company in the world, has stopped all product sales in Russia and limited the limit access to digital services, such as Apple Pay, inside Russia. 

• Google's parent company Alphabet Inc has stopped Russian payments on Google Pay and dropped Russian media outlets such as RT and Sputnik news from Google news. 

• Mercedes-Benz, the German carmaker, said it will suspend the export of passenger cars and vans to Russia as well as local manufacturing in Russia until further notice.

• Ford, the American automaker, has discontinued all its operations in Russia as well as its joint venture in Russian company Soller PJSC. 

• Nike, the American athletic shoemaker, is halting sales in Russia.

• Swedish home furnishings firm IKEA has paused all export and import in and out of Russia and Belarus. 

• Global streaming entertainment service Netflix and financial services firm American Express on Sunday cut ties with Russia.

• Global accounting firms KPMG and PwC have also decided to stop Russia operations.

• Luxury brands such as Hermès, Chanel, and Cartier-owner Richemont have suspended Russia operations due to operational challenges as the setbacks from the invasion of Ukraine spreads.

• The biggest luxury group by sales, LVMH, has closed its 124 boutiques in Russia. Kering, the owner of Gucci and Saint Laurent also shut shop in Russia.

• British businesses JCB, Asos and Burberry have announced plans to cut ties with Russia.

(Reporting by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com