Volodymyr Zelensky Urges Global Businesses to Exit Russia

Ukraine's President Volodymyr Zelensky is targeting international companies operating in Russia, increasing pressure on executives on how to respond to Moscow's invasion of Ukraine.

Volodymyr Zelensky asked lawmakers to encourage companies from their home states to stop doing business in Russia. He also asked the USA to ban all imports of Russian goods.

Many Western companies have stopped operating in the Russian market, some expressing disappointment with the invasion of Ukraine, while others expressing the logistical challenge of doing business in sanctioned countries. A handful of companies have indicated their intention to leave altogether.

Other companies are still operating in Russia. Some cite humanitarian reasons, such as providing essentials such as food and medicine, others say their hands are tied up by joint ventures or franchise agreements. Then there are companies that have been warned about the foreclosure of assets and the threat that employees could be arrested if they withdraw from the country.

The financial companies have said that they have an obligation to support their customers, in response to Mr Zelensky's comment, a SocGen spokesman  said banks strictly comply with all laws and regulations and "business in Russia is carried out with the utmost care and choice." Bank has previously stated that it is cautious and selective in its business activities.