Energy giant ExxonMobil and aviation group Boeing have joined the growing list of companies to take action over Russia’s invasion of Ukraine.
ExxonMobil said it will exit a multi-billion dollar joint venture with Russian state-owned company Rosneft.
It is the latest oil producer to cut business ties with the country, after similar moves by BP, Shell and Equinor.
Meanwhile, the world’s biggest plane maker Boeing said it is suspending operations in Russia.
“We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people,” Texas-based ExxonMobil said in a statement.
“We are deeply saddened by the loss of innocent lives and support the strong international response,” it added.
ExxonMobil currently operates and holds a stake in the Sakhalin Island oil and gas fields, alongside Rosneft and companies from Japan and India.
It said it would now exit its Russian oil and gas operations, which have been valued at more than $4bn (£3bn), and halt new investments in the country.
Last year, ExxonMobil employed more than 1,000 people across the country, with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst, according to its website.
Russia is one of the world’s biggest energy producers.
The announcement came as Brent crude – the international benchmark for oil prices – hit $110 a barrel, marking the highest level seen in more than seven years.
On Monday, rival energy giant BP said it would offload its 19.75% stake in Rosneft after Russia’s “act of aggression in Ukraine”.
On the same day, Shell announced that it would end all of its joint ventures with the Russian energy company Gazprom. This includes quitting the flagship Sakhalin II facility, which is partly owned and operated by Gazprom.
Norwegian oil producer Equinor also said it would start the process of divesting from its joint ventures in Russia.
Also on Wednesday, aviation giant Boeing said it had suspended “major operations” in Moscow and temporarily closed its office in Kyiv.
“We are also suspending parts, maintenance and technical support services for Russian airlines,” a Boeing spokesperson told the BBC.
Rival plane maker Airbus did not immediately respond to a BBC request for comment.
The announcements comes as brands around the world distance themselves from Russia as its invasion of Ukraine continues.
On Tuesday, Apple also joined the list of major firms to halt product sales in Russia, in the widening corporate backlash over the conflict.
American Express also said on Wednesday that it had halted its relationships with banks in Russia, in line with sanctions.
The payment card company described its business in Russia as “small”, with one partner that issues cards and a handful focused on recruiting merchants.
“We will continue to comply with all relevant laws as the situation evolves,” it said in a statement.(BBC)
