Nike Pulls Out of Russia Amid Ukraine Invasion, Says Its Priority Is to Ensure Employees Are Supported

• Sportwear brand, Nike is the latest company to leave Russia due to the country's war and invasion of Ukraine
• The company suspended its operation in Russia in March but opted to remove itself completely out of the country
• Nike has at least 50 stores in Russia, many of which remain closed and its priority is to ensure employees are supported

MOSCOW - Sportwear giant, Nike is the latest brand to pull out completely from Russia amid its war on Ukraine.

Three months ago, the US company suspended its operations in the country along with several other brands. Companies that are open in the country are independent partners.

In a statement released by Nike, it said the company made the decision to leave the Russian marketplace. According to SABC News, Nike said its priority is to ensure employees are fully supported while the brand responsibly scales down operations over the coming months.

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Other sportswear makers have also opted to leave the country, including Adidas. Nike has at least 50 stores in Russia, many of which remain closed. The brand also previously said that Russia and Ukraine accounted for less than 1% of its revenue.

As international companies opt to leave Russia and new sanctions are imposed, the country has become more frugal. BBC News reported that the country is working on legislation that would punish foreign companies that plan to leave Russia. The legislation will allow the government to seize their assets and impose criminal penalties.

Internet reacts to Nike

Social media users believe the decision was wise but that the brand took too long to leave Russia:

@HMartinAndre said:

“Russia is a doomed country! We have to isolate it until their tyrannical president is out.”

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@Dollarofficial2 wrote:

“They Should have done it a long time, it took them forever.”

@Ade_C_B posted:

“Good. Every non-Russian company should.”

@ShrekWes00 commented:

“Did Nike look around the room and realize everyone already left?”

Indonesia President to meet Zelensky and Putin

Indonesian President and G20 chairman Joko Widodo set off on Sunday to Europe where he said he plans to visit Russia and Ukraine and meet with the countries' leaders to urge peace talks.

Widodo departed for Germany to attend as a guest for the G7 summit from June 26 to 27, and he will then go to the Ukraine capital Kyiv to meet President Volodymyr Zelensky.

"The mission is to ask... President Zelensky to open a dialogue forum for peace, to build peace because the war has to be stopped," he told a press conference in Jakarta.

Source: Briefly.co.za