As Washington imposes sanctions on business dealings with Moscow, US-based companies with significant exposure to the Russian market are feeling the heat. International trade in food and energy has seen a spike in response to these developments on the stock market. As a result of the sanctions imposed on Russia, major companies such as McDonald’s Corporation, Spotify Technology S.A., and Pioneer Natural Resources Company have come under increased scrutiny. So far, the majority of US-based companies have refused to leave the country.
Insider Monkey highlighted the 10 stocks affected by sanctions on Russia. Personal care products are made and sold by Kimberly-Clark Corporation. In the last five days, the stock has dropped close to 3.5 percent. Kimberly-Clark may suffer as the US government restricts the activities of US-based businesses in Russia. The Russian market is extremely important to Coty Inc. Russia accounts for nearly a quarter of the company’s total sales. Western countries’ business dealings with Russian firms would end immediately if sanctions were implemented. During the past five days, the stock has fallen by more than 16%. Brands Inc. owns and operates fast-food restaurants, such as McDonald’s, Burger King, and Taco Bell. On Wall Street, it’s one of the most sought-after restaurant stock options. The Insider Monkey database shows that 36 hedge funds had $811 million in stakes at the end of the fourth quarter of 2021. Bunge Limited is a food and agribusiness conglomerate. Ukrainian wheat exports have been halted because of Russia’s invasion. As a result, wheat prices have soared, which has benefited the company. Hedge funds have piled into the stock as energy prices have risen. At the end of the fourth quarter of 2021, 41 hedge funds in Insider Monkey’s database had $2.6 billion invested in Shell Plc. For more details, click 10 Stocks Affected By Sanctions On Russia.