Shell stopped buying Russian crude oil on March 8 and said it would phase out its involvement in all Russian hydrocarbons, becoming one of the first major Western oil companies to abandon Russia entirely. Shell also apologized for buying Russian crude last week after it had said it would pull out of the country.
Exxon Mobil said on March 1 it would exit Russian oil and gas operations and make no new investments in the country as a result of Russia’s invasion of Ukraine. On March 4 luxury group LVMH said it would temporarily close 124 stores in Russia given the current circumstances. Uniqlo owner Fast Retailing said on March 7 that it would keep stores open."Clothing is a necessity of life. The people of Russia have the same right to live as we do," said Chief Executive Tadashi Yanai in remarks first reported by Nikkei, according to Reuters.French yoghurt maker Danone and Belgian chemicals group Solvay suspended operations or investment in the country.
Nissan Motor said last week it was suspending vehicle exports to Russia, joining peers including General Motors.FILE PHOTO: Russian rouble banknotes are seen in this illustration picture taken in Moscow, September 30, 2014.