Microsoft (MSFT) joined FAANG-stock peers Apple (AAPL), Google (GOOGL) and Facebook (FB) 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.
Apple has also banned sales of its products and services in Russia, while Netflix (NFLX) has blocked Russian state-backed content on its platform.
Beyond the tech sector, major companies around the world have either pulled out of or pared back investments and holdings in Russia following sanctions placed on Moscow by western world leaders -- alongside a nearly unanimous censure from the United Nations -- linked to its Ukrainian offensive.
BP plc (BP), Europe's second-largest oil company, said Monday that it would dump its near 20% in Russian energy giant Rosneft following the Russian government's invasion of Ukraine, a move it said would cost nearly $25 billion.
Exxon (XOM), meanwhile, told investors on Wednesday that its own exit from an oil and gas consortium with Rosneft, which pumped 222,000 barrels of oil per day last year, would hit its earnings by as much as 1% to 2% this year.
Boeing (BA) is also halting sales and support for Russian-purchased aircraft, while FedEx (FDX) and UPS (UPS) will have suspended package deliveries.
On the New York Stock Exchange, three Russia-linked ETFs were suspended from trading, while the London Stock Exchange Group, which operates the LSE, suspending trading on the final batch of Russian securities earlier today.
