IKEA has completely pulled out of the country, ceasing all operations and services previously being enjoyed by Russian citizens.
Hope to Return
Since the start of the Russian Invasion of Ukraine 2 months ago, more than 750 global companies had suspended their businesses in Russia.
Many companies have completely stopped all operations inside Russia while some have partially ceased their operations. As of this month many companies hope to return back to business.
Late into March a collective initiative was taken by high ranking global advertising executives and CEO’s to find a way to reach the state of normalcy and minimum peace required to carry business as usual in Russia.
The idea was to put forth an Ultimatum to Russian President Putin, for establishing the minimum viable peace required by the companies who have ceased operations in the country to resume their businesses.
The massive loss of economy and the ripple effects it has been making has thrown many global markets into turmoil. Global trade relations have been severely hampered and with every passing day the threat to world economy rises more and more.
Choosing sides
As Russia began its Invasion in its neighboring nation of Ukraine, many companies left the country citing humanitarian aspects and solidarity with Ukraine.
Of the 750 companies who have seized operation in Russia, over 300 have completely pulled out from the country.
This spells enormous loss of business for Moscow and with the imposing sanctions by the western nations, Russia is and will keep having a hard time economically in the future.
Many Global corporate giants like Pepsi and IKEA had declared the move by Russia as “horrific” and “human tragedy” while ceasing all operations and sales inside the country.
Ford motor co. ceased all operations in its three plants in the country following Russia’s act of aggression deeming the nation unviable for continuing operations like normal.
The leaders have sent an open letter to President Putin explaining their viewpoints about the Russia’s act of aggression.
The companies represent a large part of “regular” life in Russia – the day-to-day brands, businesses, and services that Russians citizens have grown so fond of, and upon which their routines and lives depend upon largely.
The letter read that the companies agree to align under one agreement with Russia. The assurance of minimum normalcy, peace and stability required to resume operations in the country.
The businesses which until recently, operated in Russia, expressed their importance and impact among the people to bring about a more safer, more secure, more prosperous future for everyone.
The global corporations have called for steady peace and restoration of the security situation in Russia, and expressed their hope to return in the service of Russian citizens in the future.
Conclusion
With Russia’s invasion in its fourth month, the prospect of peace is becoming slimmer every day. So even with peaceful intent of the global business and corporations that were previously operating in the country, the chance of spontaneous attainment of peace remains largely non-viable as of this moment.
Russian consumers will have to wait to wait for an undetermined period of time before The global corporations and services can resume normal operations in the country.
Published by: Aditya Negi
Edited by: Khushi Thakur
