Corporate retaliation has escalated since Russia began its assault on neighbouring Ukraine on Feb. 24, as even the companies that initially balked at quitting the country have been heading for the exits.
Western companies are following the lead of their governments, which are trying to force Putin to stop by cutting off Russia from the global economy. The United States and United Kingdom said on March 8 that they would “We will not be accepting new merchant sign-ups in Russia and Belarus, and Shopify’s checkout will be disabled for existing merchants in Russia and Belarus,” a Shopify spokesperson said in an email.
“Russia and Ukraine are likely no more than a couple per cent of revenue for Shopify,” Romanoff said in an interview.
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