Indiana companies assess business ties with Russia – WISH-TV | Indianapolis News | Indiana Weather forecast

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INDIANAPOLIS (WISH) — While Indianapolis-based Rolls-Royce and other companies say their business dealings in Russia represent less than 1.5% of their revenue, they also say they have decided to halt all their activities there.

I-Team 8 finds this a common theme with big business as the war in Ukraine continues to escalate; However, companies’ decision between profit and politics is not always easy, experts say.

“I envy anyone in a position in business or government to understand exactly what to do, because much of it is unprecedented,” said Tim Fort, a researcher and professor of business ethics at Indiana University. “Depending on the product you make, it makes a big difference in the values ​​behind the product.”

Rolls-Royce, a British multinational aerospace and defense company with facilities in Indianapolis, says all of its revenue in Russia comes from civilian markets related to their civil aerospace and electrical systems business, and that the company “has no business with the Russian army”.

Indianapolis-based pharmaceutical giant Lilly is in a different position.

Fort said: “If some of (Lilly’s) production facilities, if some of the minerals or ingredients they need to make life-saving drugs, there’s a good reason to say we should be saving lives .”

Lilly showed its support for Ukraine this week by illuminating its tower and fountain in the country’s colors. Ukraine and Russia accounted for less than 1% of the company’s total sales in 2021, according to a company spokesperson.

“Lilly’s office in Ukraine is currently closed and our operations have been suspended in the country. We continue to ensure access to medicines in the region. We are committed to providing lifesaving medicines to patients around the world. As we continue to do business in Russia, we are also committed to complying with EU and US government trade and economic sanctions, as well as restrictions on transactions with restricted parties.

Statement of Eli Lilly & Co.

Fort says different powers are in place regarding the war in Ukraine. “The pointy power, which is guns and tanks and stuff like that, and then there’s the sticky power, which is, you know, the economy.”

Vladimir “Putin is clearly using strong power, and the rest of the world is using sticky power to try to strangle the Russian economy, and we don’t know which one is stronger at this point,” Prof IU said.

Fort pointed to the many demonstrations of support for Ukraine in Indianapolis and around the world as proof that consumers have the power to force companies to follow suit.

“I was shopping at Target…I saw some Russian vodka, and I almost walked to the front of the store and said, ‘I’d really rather you didn’t sell that anymore’ “, Fort said. “We recognized that consumers have the power to say, ‘I’m angry about this. I don’t want that anymore,” and companies are listening.

I-Team 8 reached out to several companies with offices in Indiana — Cummins, Salesforce and Anthem — to ask about their possible Russian business ties, but did not hear back as of Friday afternoon.

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