Microsoft Joins Faang Peers in Boycotting Russia, Putting Sales on Hold

March 05, 2022
Microsoft Joins Faang Peers in Boycotting Russia, Putting Sales on Hold
Get Microsoft Corporation Report joined FAANG-stock peers Apple  (AAPL) - Get Apple Inc. Report, Google  (GOOGL) - Get Alphabet Inc. Class A Report and Facebook  (FB) - Get Meta Platforms Inc. Class A Report in suspending sales activity in Russia as the country deepens its invasion in Ukraine and targets the region's biggest nuclear facility in the latest attack on its former Soviet partner.

Get Microsoft Corporation Report joined FAANG-stock peers Apple  (AAPL) – Get Apple Inc. Report, Google  (GOOGL) – Get Alphabet Inc. Class A Report and Facebook  (FB) – Get Meta Platforms Inc. Class A Report in suspending sales activity in Russia as the country deepens its invasion in Ukraine and targets the region’s biggest nuclear facility in the latest attack on its former Soviet partner.

Microsoft said it would “suspend all new sales” of products and services in Russia, while “stopping many aspects of our business in Russia in compliance with governmental sanctions decision”, adding that it will continue to work with the government of Ukraine to “help cybersecurity officials defend against Russian attacks”.

“Since the war began, we have acted against Russian positioning, destructive or disruptive measures against more than 20 Ukrainian government, IT and financial sector organizations,” Microsoft said. “We have also acted against cyberattacks targeting several additional civilian sites. We have publicly raised our concerns that these attacks against civilians violate the Geneva Convention.”

Microsoft shares were marked 1.4% lower in early Friday trading to change hands at $291.80 each, a move that extends the stock’s year-to-date decline to around 13%.

Earlier this week, Google parent Alphabet said it has ceased the sales of online ads in Russia, including those linked to YouTube, “In light of the extraordinary circumstances” surrounding its invasion of Ukraine earlier this month.