Businesses withdraw from Russia due to the war in Ukraine

Here’s a look at the latest announcements from major companies.

the cars

stronghold Tuesday announced that it was comment its operations in Russia. The American automaker owns a 50% stake in Ford Sollers, a joint venture that employs at least 4,000 people and is shared with Russia’s Sollers.

Ford had said earlier Tuesday that it was “extremely concerned about the situation in Ukraine,” but did not go so far as to halt operations in the three Russian cities where the company has plants: Saint Petersburg, Ilapuga and Naberezhnye Chelny.

Ford dealership and service center.

The company notes that it has “significantly discontinued” its Russian operations in recent years, and has a “strong group of Ukrainian citizens working for Ford around the world”.

general motors He said On Friday, it said it had halted all exports to the country “until further notice”.

GM doesn’t have a large presence there: It only sells about 3,000 vehicles a year through 16 dealer locations, according to a spokesperson. That’s among more than 6 million vehicles the Detroit automaker sells annually worldwide.

Toyota announced Thursday that it will stop making cars in Russia, or importing them into the country “until further notice, due to supply chain disruptions.”

“Like anyone around the world, Toyota is watching developments in Ukraine with great concern for the safety of people in Ukraine and hopes for a safe return to peace as soon as possible,” it said in a statement. statment.

airline

Boeing On Tuesday, it said it would suspend support for Russian airlines.

A spokesman for the company confirmed that it had temporarily suspended “spare parts, maintenance and technical support services for Russian airlines,” and “also suspended major operations in Moscow and temporarily closed our office in Kyiv.”

“As the conflict continues, our teams are focused on ensuring the safety of our colleagues in the area,” the representative added.

Airbus Boeing followed suit on Wednesday. The plane manufacturer said in a statement that it had “suspended support services for Russian airlines, as well as the supply of spare parts to the country.”

big technology

an Apple On Tuesday, the company announced that it would stop selling its products in Russia.

The company said in a statement that it was “deeply concerned” about the Russian invasion. In response, it has also moved to restrict access to digital services, such as Apple Pay, within Russia, and has restricted the availability of Russian state media apps outside the country.

Re: Store store in the center of Moscow.  re: Store is one of the largest Apple sellers in Russia.
Facebook (FB)-parents dead On Monday, it said it would block access to Russian news outlets RT and Sputnik across the European Union.

The move comes after receiving “requests from a number of governments and the European Union to take further steps with regard to Russian state-controlled media,” Nick Clegg, the company’s vice president for global affairs, wrote in a tweet.

Meta also said it has implemented account restrictions on Russian state media that should prevent them from appearing more prominently in users’ feeds.

Twitter (TWTR) He similarly announced plans to “reduce the visibility and amplify” the content of Russian state media.
Big tech firms crack down on Russian state media content amid mounting pressure
Netflix (NFLX) As he said Monday was broadcast refused Russian state TV channels in the country – something that Russian law should have done starting this week.

“Given the current situation, we have no plans to add these channels to our service,” the company told CNN Business.

spotify (spot) It said Wednesday it had closed its Russia office “indefinitely” and restricted shows “which are owned and operated by Russian state media.” A company spokesperson said the streaming service has removed all content from RT and Sputnik in Europe and other regions.

“We are deeply shocked and saddened by the unprovoked attack on Ukraine,” the spokesman added. “Our number one priority over the past week has been the safety of our employees and to ensure that Spotify continues to serve as an important source of global and regional news at a time when access to information is more important than ever.”

Rocco (ROKU)And the A company that sells devices that allow users to stream content online, has forbidden RT worldwide.

youtube, owned by Joogle, It said over the weekend that it had blocked Russian state media inside Ukraine, including RT. The video platform also said it would “significantly limit recommendations to these channels”.

Google and YouTube also said they would no longer allow Russian state media to run ads or monetize their content.

energy

BP On Sunday, it said it plans to give up its 19.75% stake in Russia’s largest oil company, Rosneft, and their joint ventures – representing one of the largest foreign investments in Russia.

Equinor The Norwegian oil and gas company announced on Monday that it will also begin to exit its joint ventures in Russia.

“We are all deeply disturbed by the invasion of Ukraine, which is a terrible setback for the world,” said CEO Anders Obedal.

The company said it has a long-term investment of $1.2 billion in Russia by the end of 2021. It has been operating in Russia for more than 30 years and has a cooperation agreement with Rosneft.

Exxon abandons its latest Russian project

exon On Tuesday, it pledged to leave Russia’s last remaining oil and gas project and not invest in new developments in the country.

The Sakhalin 1 project is “one of the largest international direct investments in Russia,” according to the project’s website. An Exxon subsidiary holds a 30% stake, while Rosneft also owns a stake.

By withdrawing from this project, Exxon will end more than a quarter-century of continued commercial presence in Russia.

Shell follows BP out of Russia as oil companies ditch Putin
seashells he is too get out of Russia and abandoning its joint ventures with Gazprom, including its involvement with the dying Nord Stream 2 Natural gas pipeline.

The UK-based oil company said Monday it will give up its stake in a liquefied natural gas facility, its stake in a project to develop fields in West Siberia and its interest in an exploration project on the Gedan Peninsula in northwest Siberia.

“We are shocked by the loss of life in Ukraine which we regret as a result of an unreasonable act of military aggression that threatens European security,” Shell CEO Ben van Beurden said in a statement.

Shell gas station in Moscow in 2020.
total energy On Tuesday he also condemned Russia’s actions and He said It no longer provides capital for new ventures in the country.

The French oil giant has done business in Russia for 25 years and recently helped launch a major LNG project on the Siberian coast.

finance

Norway’s sovereign wealth fund $1.3 trillion I will strip the stock Norway’s prime minister said on Sunday that there are 47 Russian companies as well as Russian government bonds.
Master Card Credit Card (Master’s) announce On Monday, it said it had “blocked several financial institutions” from its network as a result of the anti-Russian sanctions, and will continue to work with regulators in the coming days.
visa (Fifth) It also said Tuesday that it is taking steps to comply with the measures as they develop.

Media and entertainment

DirectTV He is Cut the relationships With RT, the Russian-backed television network is notorious for promoting Russian President Vladimir Putin’s agenda.

A spokesperson for the US satellite carrier told CNN Business on Tuesday that it was already reviewing whether to renew the port’s transfer agreement, which was due to expire later this year. The representative said that Russia’s war on Ukraine hastened its decision.

Disney he is too comment Her theatrical films were shown in Russia, referring to the “unjustified invasion of Ukraine.”

The entertainment giant had several films scheduled to be released in Russia in the coming months. That includes Marvel’s “Doctor Strange in the Multiverse of Madness” on May 5 and Pixar’s “Lightyear” on June 16.

A shopper opens an umbrella depicting Disney princesses at the Central Children's Store on Lubyanka Square, Moscow in 2017.

“We will make future business decisions based on the evolution of the situation,” a Disney spokesperson said.

& # 39;  Batman's & # 39;  Withdrew from Russia
Warner Media He said Monday that he will stop the release of “Batman” in Russia.

The movie is expected to be one of the biggest blockbusters of the year, and it will be released in most countries by Warner Bros. , which, like CNN, is a unit of WarnerMedia.

A spokesman for the company said the decision was made “in light of the humanitarian crisis in Ukraine”, and that the company hoped for a “quick and peaceful solution to this tragedy”.

sectoral

H&M announced on Wednesday that it will temporarily halt all sales in Russia.

The company said in a statement that it was “deeply concerned about the tragic developments in Ukraine, and stands by everyone who is suffering.”

Giant clothing stores in Ukraine have already closed due to safety concerns.

According to its website, H&M Group, which operates a number of brands, had 168 stores in Russia as of last November.

Shipping

Maersk And the MSC Mediterranean Shipping Company Both Cessation of merchandise reservations with Russia.

“As the stability and safety of our operations is already directly and indirectly affected by the sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with the exception of food, medical and humanitarian supplies,” the Denmark-based company said in a statement. Tuesday statement.

“We are deeply concerned about the continuing escalation of the crisis in Ukraine,” the company added.

MSC, a Swiss-owned container shipping line, said its special suspension began on Tuesday, and would include “all access areas, including the Baltic, Black Sea and Russia’s Far East.”

Richie Iyengar, Michelle Toh, Chris Isidore, Vanessa Yurkevich, Paul B. Murphy, Mark Thompson, Vasco Cutofio, Peter Valdes Dabbana, Frank Pallotta, Brian Fong, Oliver Darcy, Jordan Valinsky, Chris Liakos, and Pamela Boikov contributed to this report.

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