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Nike Has Made A Decision On Doing Business In Russia

An exterior view of the Nike store in SoHo.

NEW YORK, NY - JUNE 15: The Nike 'swoosh' logo is displayed on the outside of the Nike SoHo store, June 15, 2017 in New York City. Nike announced plans on Thursday to cut about 2 percent of its global workforce. (Photo by Drew Angerer/Getty Images)

Just a few months after suspending its operations there, Nike has announced that its making a full exit from Russia. 

Nike initially suspended its operations for its stores in Russia in response to the country's actions against Ukraine.

"NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months," the company said in a statement.

This isn't the first time that Nike has taken a major stand on a topic of this magnitude. That being said, the company's exit from Russia shouldn't really affect the business all that much.

According to multiple reports, Nike gets less than one percent of its revenue from Ukraine and Russia combined. 

Nike isn't the only major brand that has announced its departure from Russia McDonald's and Google have made the same move. 

It'll be interesting to see if other companies follow suit.