Uber (NYSE: UBER) & PayPal (NASDAQ: PYPL) are the latest companies to play their part in cracking down on Russia & aiding Ukraine.
Uber is rolling out several initiatives. The company will provide free rides to AND from Polish cities for Ukrainian refugees, & is “exploring how Ukrainian refugees can have access to work on the Uber platform in neighboring countries”. Uber will also add a button on its app allowing riders to donate straight to the International Rescue Committee.
Online payments company PayPal said it will stop accepting new users in Russia. PayPal follows in the footsteps of other payments platforms, including Visa, Mastercard, & American Express, which have blocked several Russian financial institutions due to government sanctions.
The great corporation push
Uber & PayPal join their tech counterparts in doing their part to put pressure on Russia &/or come to Ukraine’s aid. But the move isn’t limited to tech companies, as we’ve seen energy giants like ExxonMobil & others announce exits from their Russian operations.