⚫ Mahmud Hasan,Reporter:
Following Russia's invasion of Ukraine, many international corporations have distanced themselves from the country, but those who continue to conduct business there are increasingly suffering blowback on social media.
⚫ Nestle is under fire after Ukrainian Prime Minister Denys Shmyhal slammed the world's largest packaged goods company on Twitter for showing no indications of exiting the Russian market, prompting demands for a boycott of Nestle products.
⚫ Following an interview, Christopher Wynne, an American franchisee in Russia, gave to the New York Times. He indicated he wanted to keep his restaurants open, Papa John's, which declared last week that it had ceased corporate activities in Russia, has received ire from social media users.
⚫ President David Shear of Burger King owner Restaurant Brands International stated in an open letter on Thursday that the business has begun to dispose of its 15% investment in its joint venture in Russia, a week after the burger brand ceased corporate assistance in the country.
⚫ Koch Industries, the second-largest private corporation in the United States according to Forbes, said in a statement on Wednesday that subsidiary Guardian Industries will continue to run two glass production plants in Russia, employing about 600 people.
⚫ On Friday, a Nestle representative reiterated the company's prior statement that it had discontinued all advertising and capital expenditure in Russia, as well as suspending shipping of non-essential products to and from the country.
Critic in chief
"If there are corporations in your regions that have funded the Russian military machine... During his address to the US Congress on Wednesday, Ukrainian President Volodymyr Zelensky remarked, "You should impose pressure." "I'm requesting that the Russians do not receive a single dime that they may use to murder Ukrainians."
In a separate speech on Tuesday, Zelensky mentioned many multinational corporations that haven't left Russia, including Samsung Electronics of South Korea, Johnson & Johnson of the United States, and BASF of Germany. Since Russia's invasion of Ukraine, the three have cut back their operations in Russia, although sales have remained. Unlike firms that own enterprises in Russia, abandoning the Russian market or suspending sales may not be an option for certain organizations whose Russian operations are managed by franchisees. According to Bloomberg, Russia's Economy Ministry has suggested a scheme under which Russian courts might assign external managers to firms that halt operations in Russia and are more than 25% foreign-owned, and their shares could be frozen by courts.
"If there are corporations in your regions that have funded the Russian military machine... During his address to the US Congress on Wednesday, Ukrainian President Volodymyr Zelensky remarked, "You should impose pressure." "I'm requesting that the Russians do not receive a single dime that they may use to murder Ukrainians."
In a separate speech on Tuesday, Zelensky mentioned many multinational corporations that haven't left Russia, including Samsung Electronics of South Korea, Johnson & Johnson of the United States, and BASF of Germany. Since Russia's invasion of Ukraine, the three have cut back their operations in Russia, although sales have remained. Unlike firms that own enterprises in Russia, abandoning the Russian market or suspending sales may not be an option for certain organizations whose Russian operations are managed by franchisees. According to Bloomberg, Russia's Economy Ministry has suggested a scheme under which Russian courts might assign external managers to firms that halt operations in Russia and are more than 25% foreign-owned, and their shares could be frozen by courts.
