Amid a growing international backlash against Russia, many companies are either suspending trading or pulling out of Russia and the latest to do so is Harley Davidson.
Harley Davidson Suspends All Business Dealings In Russia
They might not be moves that are making Putin shake in his boots but, collectively, they will put pressure on the Russian population. While governments place sanctions on Russia, companies are suspending all operations and trade in and with the country.
The latest to act is Harley Davidson. The full statement reads: “In light of the crisis in Ukraine, Harley-Davidson has suspended its business in Russia and all shipments of its bikes to the country. Our thoughts continue for the safety of the people of Ukraine and those impacted by the crisis.”
The use of the word 'crisis' is interesting as it hardly describes the situation and smacks of not wanting to offend anyone. Russia falls into the Europe, Middle East and Africa (EMEA) region and, while Harley doesn't break down sales figures into countries, the region as a whole accounted for 31% of sales in 2021 and 36.9% in 2020.
Harley is by no means alone in imposing sanctions at business level upon Russia. It follows Ford, GM, Volvo and BMW in the automotive sector and Apple in the tech sector and, no doubt there will be many more before the week is out. All these companies have a large presence in Russia and their withdrawal will make a dent in the morale of the country. How significant will only become clear in the weeks and months to come.
However, business is business and to lose such a large slice of the pie might not be sustainable for ever. The question remains, even if the Ukraine situation is resolved but Putin remains in power, how do these companies return to Russia without seeming unsympathetic to the plight of the Ukranian people? To continue to support the Putin presidency by resuming trading should he withdraw his troops from the neighbouring country would be to approve of his presidency and that could have far-reaching consequences.