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Accenture to close unit in Russia

Mar. 03, 2022 11:41 AM ETAccenture plc (ACN)By: Manshi Mamtora, CFA14 Comments

Terrain crack - Ukraine/Russia

traffic_analyzer/iStock via Getty Images

  • Standing by people of Ukraine, Accenture (ACN -0.1%) is discontinuing business in Russia.
  • Company has nearly 2,300 colleagues in Russia and thank them for their dedication and service over the years, will be providing support to Russian colleagues.

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Comments (14)

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Why not open up contributions to Ukraine from alumni
Ultra rich Putin’s war in Ukraine putting even more regular Russians out of work.

Mass exodus out of Russia. Super toxic.
Most don't understand what's happening or why Russia does what it does, but it's easy if you review a few basic facts.

1. Putin does invasions when oil prices are high, because most of Russia's military budget comes from what they make on selling oil and gas.
August 2008: Oil at $118 per barrel. Russia invades Georgia
February 2014: Oil at $108 per barrel. Russia invades eastern Ukraine and Crimea
February 2022: Oil reached $97 per barrel, the highest nominal price since September 17, 2014.

2. Oil and gas prices go up because of bad policies limiting oil and gas development in North America.

3. Russia donates a significant amount of money each year to any group trying to block fossil fuels in North America.

4. Putin's ideas on foreign policy come from the USSR and long-dead Czars. His two heroes in life are Josef Stalin and Peter the Great. He's a totalitarian kleptocrat rather than a totalitarian communist, but he shares their views of Russian imperialism and a massive Russian empire. That's all the Warsaw Pact really was, albeit dressed up with some Marxist ideas on the side. He's an evil guy straight out of a movie script hell bent on conquering or non-violently subduing Eurasia and Eastern Europe. Description of Putin's evil world views: torontosun.com/...

5. Putin is extremely adept at "active measures" against the west as practiced by the KGB, because he was a KGB Lieutenant Colonel in Germany. This includes feeding the western media, the Trump camp, the Democrats, the FBI, the intelligence agencies, mentally unstable people screaming at the sky over the bad orange man, mentally unstable Q followers talking about Pizza parlor pedos and everyone else whatever lies he needed them to believe to create total chaos in America for several years to destabilize the country. He made them all look like fools as they took pot shots at each other, did endless investigations amounting to politically motivated persecution and generally caused extreme political turmoil. Description of Active Measures: www.marshallcenter.org/...

6. Russia under Putin is not pro-Trump or the enemy of just the Democrats but the sworn enemy of America and all western democracies. Why? Same reason as his predecessors for the last 100 years. They like being all-powerful tyrants and view our way of life as a threat that could take root among his own very oppressed people and surrounding countries he wishes to rule and exploit. There is no lie the KGB-minded Russian won't tell to achieve the goals of prevailing against the west. It's how they were raised and trained their whole life. They don't think like the American family in the Norman Rockwell painting. They think like psychopathic ex-KGB Russians. Putin has a thousand internet trolls posting comments on social media, and I do not doubt they are posting on this site today. They are here to deceive and cause division. They despise America and always will.

7. Peace will only be maintained through military and economic superiority and through strong alliances with the entire free world. We either win or we lose against these people. There is no peaceful co-existence possible apart from avoiding high intensity conflicts. Not until after Putin is replaced by someone much better. This is a zero sum game against eastern tyranny that America and the free world must realize is happening and have realistic plans to win, or else we will lose.

8. It's high time for the first-string starting players of the American and free world public to step back into the public sector as was the case in World War 2 and the 1950s. The practice team scrubs have fcked things up enough since they took over. The big money will still be there to be made when the New Cold War is over.
@donfdraper You've got this mostly right. You left out the part where Russia has been saying that they wouldn't stand for Ukraine being added to NATO since back in 2008 after the NATO summit in Bucharest where they announced that adding Ukraine and Romania was a priority. The USA has the Monroe Doctrine; we won't stand for anybody messing around with us in the Western Hemisphere. Why does the Biden regime expect Putin to just sit and take it in his neck of the woods? The answer is, of course, that he won't.

Oil was near record price, he has Europe by the balls with natural gas, and he's just struck up a deal with China to do nearly 50% of their business in Euros instead of US Dollars via an alternative to the SWIFT system (It's called System for Transfer of Financial Messages (SPFS) by the way.) Combine that with the Chinese Cross-Border Interbank Payment System (CIPS) and you can see that they are laying the groundwork to both rid themselves of the US Dollar for good.

Oh, and did you know that Russia combined with Ukraine is one of the world's largest producers of wheat? They produce nearly 30 percent of global production and also 20% of corn. China just relaxed import restrictions on both commodities from Russia recently. Coincidence? Nope.

The Biden D team has once again managed to turn gold into turds and the American taxpayer is the one who will suffer greatly as a result.
@NCBanker This is not true! Ask the Argentines about the Malvinas War!!! The USA has the Monroe Doctrine; we won't stand for anybody messing around with us in the Western Hemisphere.
@NCBanker Russia's neighbors are very much like a collection of abused ex-spouses and girlfriends. Some of them hate each other. Some of them keep going back to get face punched again. Russia's rulers feel they own them, just like they feel they own the people of Russia. They stalk and undermine them like a drunken guy in a wifebeater t-shirt in the parking lot at the beaten woman's workplace. Is NATO supposed to refuse them entry simply because the kleptocratic psychopaths in Russia say so? No. Fck them. They can keep making nuclear threats all they want. The west has nukes too and knows how to use them. Nobody in the Putin regime would survive a first strike, I assure you, and they know it despite pretending not to on TV.

The moral thing to do for the "leader of the free world" in 2014 would have been to sign a bilateral mutual defense treaty with Ukraine as soon as they asked and insisted that NATO grant them entry as other likeminded countries also signed bilateral agreements. We should have had tank divisions near Kiev and F-22s flying over Ukraine in that same year. This would have prevented the Russian atrocities and war crimes we see happening today. This is what being the leader of the free world actually means, not acting like a gimp because they might hold up our titantium or wheat purchases. Fck that. This isn't just about economics. We are in an existential cold war with eastern tyranny and people better start waking up or we will lose it.
Wow, that amazing....but brutal to those 2,300 colleagues!
@SelmaPete Indeed, a lot of these boycotts/end trading messages seems like overkill that will not help to achieve the target.

A great example was the news earlier today about the international cat federation no longer accepting Russian cats in competitions.
puertoescondidan profile picture
@SelmaPete They won't view Putin very favorable from here on in - and that is probably an understatement
@International Investor This goes with my running theory that the majority IQ is room temperature... Cutting business with normal people just breeds discontent.
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