Apple, Nike and Hollywood Spurn Russia, Isolating Putin

Protesters gather outside the Russian-owned international investment bank to demonstrate against Russian President Vladimir Putin and the Russian-owned bank on March 1, in Budapest, Hungary. Photo: Bloomberg

(Bloomberg) — Russia’s invasion of Ukraine last week brought global condemnation, trade restrictions and financial penalties. Now the nation of 145 million is losing many of the world’s most iconic brands.

Apple Inc. and Nike Inc. both announced plans Tuesday to halt product sales in Russia, cutting off the country to the most valuable technology company and the biggest maker of athleticwear. That followed Hollywood studios such as Walt Disney Co. and WarnerMedia pausing releases of new films in the nation — including “The Batman,” which is hitting U.S. theaters this weekend and expected to become one of the highest-grossing movies of the year.