A month into the war, these companies still struggle to exit Russia
all shipments to Russia and Belarus on March 3, and has previously issued statements condemning the violence.“We are working to support all of our employees through this difficult situation, including our 1,200 employees in Russia,” the company wrote in an unsigned statement. “We have also implemented business continuity measures to minimize disruption to our global operations.”
The ban on investments is not clear-cut for many American businesses that continue to operate factories and other facilities in Russia. Over time, maintaining those facilities will require some form of investment, which could force the United States to scrutinize individual company decisions, said Ariel Cohen, a nonresident senior fellow at Atlantic Council, a think tank.
In a March 24 email to employees, president and chief operating officer Dave Robertson said abandoning its glass plants in Russia would “do more harm than good” because it would leave employees open to prosecution or harassment by Russian authorities. Plus, he added, Moscow would seize the plants and keep them open anyway.
“Companies doing business in Russia are going to have to spend a lot of time and resources to fully understand this new investments rule, which could in turn create enough motivation to completely pull out of the Russian market to avoid running afoul or crossing the line,” Szakonyi said.“The executive order bans new investment so it wouldn’t impact existing plants,” the Treasury Department said in a statement.
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