Analyses by multiple firms project year end GDP contraction of at least 5% and inflation of 15%. As a result of the latter, several commentators have warned of an unprecedented economic collapse in Russia's future, citing a 30% drop in the ruble's value, a 20% rise in interest rates and a 1% GDP expansion down from 1.7%. The response can be broadly divided into a "cultural boycott", aimed at amplifying the international condemnation of the invasion, and an "economic boycott", which is designed to make the war effort less sustainable. Ukrainian institutions have stated that the need for these measures is urgent. Many companies were not impacted by sanctions against Russia but ruled in favor of cutting ties with the country either due to the public pressure or in protest of the Russian government's actions, or both. The majority of countries which sanctioned Russia following its 2014 annexation of Crimea began imposing additional sanctions to punish Russia for invading all of Ukraine - a move for which Russian President Vladimir Putin had long prepared. Ukrainian National Agency on Corruption Prevention maintains a list called International Sponsors of War that includes companies and individuals still doing business with Russia. As of 2 July 2022, the Yale School of Management recorded more than 1,000 companies withdrawing or divesting themselves from Russia, either as a result of sanctions or in protest of Russian actions. Since early 2022, Russia and Belarus have been boycotted by many companies and organizations in Europe, North America, Australasia, and elsewhere, in response to the 2022 Russian invasion of Ukraine, which is supported by Belarus. Retailers around the world removed Russian-made products from their inventories due to the invasion, either voluntarily or as a result of sanctions. Boycotts following the Russian invasion of Ukraine
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