From BP to Disney, Western companies are flexing “soft power” by cutting ties with Russia

Corporate exodus… A growing list of Western companies are responding to the war in Ukraine, from offering gestures of goodwill to cutting business ties with Russia. Yesterday, Visa and MasterCard blocked Russian banks from using their payment systems, to comply with US sanctions that restrict domestic companies from doing biz with certain Russian firms. But not every retaliatory move has been about sanctions:

• Giving shelter: Airbnb is offering free housing for up to 100K Ukrainian refugees with the help of volunteer hosts in neighboring countries. Meanwhile, Elon Musk shipped SpaceX Starlink satellites to help keep Ukraine's internet online.
• Sending a message: Disney, Paramount, and Warner Bros. agreed to immediately halt movie releases in Russia (no “Batman” premiere this weekend in Moscow). On the tech front, Microsoft pulled Kremlin-backed news outlets from its app store, while Google and Meta blocked Russia’s state-media outlets from monetizing on their platforms.
• Cutting bait: BP dumped a near 20% stake in its Russia-related energy biz, while Shell ditched its Russian oil ventures, including its stake in the Nord Stream 2 pipeline. Uber’s looking to sell its remaining $800M stake in Russian ride-hailer Yandex, and Apple has stopped selling all its products in Russia.