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Here are the companies still doing business in Russia undeterred

Business 15:45 11 Mar, 2022

Some companies are still doing business in Russia

Here are the companies still doing business in Russia undeterred

A corporate exodus from Russia in response to its military invasion of Ukraine has seen more than 300 U.S. and multinational companies sever business ties with the country — and the list is growing by the minute.

But even as many flee, a number of big-name firms have remained mum.

Among them are U.S. consumer favorites including Dunkin’ Donuts, Subway, and Mondelez (MDLZ). Hotel giant Marriott (MAR) can also be found on the docket of corporations that have not suspended or reduced their exposure to Russia’s market, Qazet.az reports.

Since President Vladimir Putin’s war on Ukraine began on Feb. 24 — which has so far led to 2 million refugees and more than 1,000 civilian casualties recorded by the United Nations — around 330 companies have withdrawn from Russia in protest of the Kremlin as of March 10, according to a list compiled by Yale professor Jeffrey Sonnenfeld and his research team. Still, 39 continue to operate in the country despite mounting pressure to take action.

Dunkin’ Donuts operates 150 locations in Russia, according to the research by Sonnenfeld and his colleagues, while Subway has 446 franchise locations in the country. American multinational food and beverage maker Mondelez — the parent of brands like Oreo, Ritz, and Chips Ahoy! — has an even bigger footprint in the country that it has yet to give up. Mondelez generates about 3.5% of its revenue from Russia, or about $1 billion.