Russia Exit Tricky for Firms One Year After Ukraine Invasion

Companies that pledged to leave Russia almost a year ago in response to the Ukraine invasion are wading through heightened risk and complex terrain as they gradually pull the plug on their business ties.

Companies including McDonald’s Corp withdrew from Russia this past summer, citing the humanitarian crisis in Ukraine as well as the impact the war is having on its fast-food franchises. But others including BP P.LC., Dutch mobile provider Veon Ltd. and Philip Morris International Inc. have faced a much lengthier and cumbersome process exiting Russia.

“Russia is a market where it’s easier said than done to ...