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Numerous American companies still doing business in Russia

APTOPIX Russia Daily Life
Posted at 11:18 AM, Mar 10, 2022
and last updated 2022-03-10 11:24:57-05

As more companies decide to stop doing business in Russia due to its decision to invade Ukraine, there are some holdouts.

The major companies still doing business in Russia include Burger King, Domino's, Subway, Citi and Marriott, according to the Yale School of Management.

Burger King, Subway and Domino's have hundreds of independent franchise locations inside Russia. The companies reportedly said while they can't shut them down, they are redirecting profits to humanitarian efforts.

Citigroup Inc. said on Wednesday that it is operating on a limited basis in Russia and is still planning to divest its franchise in the country, Reuters reported.

On Thursday, Goldman Sachs became the first Wall Street bank to exit Russia, Bloomberg reported.

Marriott also issued a statement Thursday. The hotel chain said it is closing its corporate office in Moscow and pausing the opening of future hotels.

However, some hotels in the country will likely remain open.

"Our hotels in Russia are owned by third parties and we continue to evaluate the ability for these hotels to remain open," the company said in a statement.

Hilton and Hyatt reportedly announced similar moves on Wednesday.

Hundreds of businesses have rebuked Russia for its attack on Ukraine and only dozens still have a footprint in the country, Yale School of Management reports.