Did Visa and Mastercard start a wave Saturday that could lead to many more big companies refusing to do business in Russia? Several politicians hope so.
On Friday, the New York State comptroller told companies to cease operations in Russia. Thomas DiNapoli said essentially told companies they face “significant and growing legal, compliance, operational, human rights and personnel, and reputational risks.”
McDonald’s and PepsiCo were two prominent American businesses DiNapoli targeted with his message.
He also referenced Estee Lauder and Kimberly-Clark Corp.
It’s a trickle that could turn into a tidal wave soon. Since Russia’s invasion, Nike, Apple, Spotify, and Ikea have said they would cease operations in Russia.
A politician in the UK took it a step further than DiNapoli. He tweeted, “If McDonald’s and Starbucks continue to sell in Russia, then an international boycott of their products should be instigated.”
On social media, you’ll see a lot of support growing for people to boycott companies that do not take the stand of ceasing operations in Russia, with McDonald’s a primary target.
It will be interesting to see what McDonald’s does as the social media pressure intensifies. According to the New York Times, McDonald’s is the outright owner of most of the 847 restaurants located in Russia. Russia accounts for 9 percent of total revenues and 3 percent of its operating income.
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