Global accountancy firms PwC and KPMG said on Sunday evening (6 March) that they would be closing their offices in Russia amid the accelerating war in Ukraine.
And in a report by Bloomberg, Goldman Sachs was said to be looking at moving some of its Moscow-based staff to Dubai, according to people with knowledge of the matter.
Writing on LinkedIn, PwC's global chairman Robert E. Moritz said: "We all continue to be shocked and horrified by the senseless war that the Russian government is inflicting on Ukraine and its people.
"Our main focus has been helping our Ukrainian colleagues and supporting the humanitarian efforts to aid the people of Ukraine.
"We have also been thinking about how we can take action in the way we run our network.
"We have decided that, under the circumstances, PwC should not have a member firm in Russia and consequently PwC Russia will leave the Network."
KPMG said on LinkedIn its member firms in Belarus will also leave: "We believe we have a responsibility, along with other global businesses, to respond to the Russian government's ongoing military attack on Ukraine.
"As a result, our Russia and Belarus firms will leave the KPMG network.
"KPMG has over 4,500 people in Russia and Belarus, and ending our working relationship with them, many of whom have been a part of KPMG for many decades, is incredibly difficult.
"This decision is not about them - it is a consequence of the actions of the Russian Government."
While Goldman Sachs is reportedly looking at moving staff from Russia to Dubai following the invasion of Ukraine.
A portion of Goldman Sachs Group Inc.'s Russia staff is relocating out of the country as firms react to a global effort to shut off the Russian economy after the invasion of Ukraine.
The relocation is being driven by its staff seeking to work from a different location, one of the people said, according to Bloomberg.
A representative for Goldman Sachs declined to comment. The move is not intended to be permanent as of now, one of the people said.
