Matt Levine’s Money Stuff: Leaving Russia for Morals or Money

ESG

If you are an international company or investor, why might you stop investing or doing business in Russia? There are two basic reasons:

1. Moral reasons: Russia’s invasion of Ukraine is bad and you do not want to support it. Exactly whose morality matters here could vary: A company might pull out of Russia because of its chief executive officer’s personal moral views, or to respond to (or avoid) moral pressure from shareholders, employees or customers. But the idea is that by stopping investing in Russia you are in some way punishing Russia and raising the costs of its aggression, ...