also plans to keep stocking the shelves in Russia. Its tax payments accounted for 1.4% of the Kremlin's budget in 2020, according to Reuters. JT also employs 4,500 people there. McDonald’s, however, said on Tuesday that it will temporarilyThere are few black-and-white cases, and many foreign businesses choosing to remain can make a reasonable argument for their choice. They need to keep updating their thinking, though, or they may find their decision looks less ideal as time goes on.
- 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.Editing by Richard Beales and Sharon LamOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.Sign up to our investor newsletter to get the latest news and trends in global financial markets.