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Russia-Ukraine War: Companies suspend Russia operations

Russia Ukraine WarRussia-Ukraine War: Companies suspend Russia operations

Paris (Times Of Ocean)- The French luxury giant Chanel has stopped selling its products to people who want to take them to Russia after closing its stores in the country. Moscow has accused the company of being anti-Russian, and several customers have threatened to boycott the brand. suspended Russia operations Ukraine war belarus

Chanel says it is complying with sanctions imposed by the European Union (EU), which ban the sale of luxury goods priced at more than $300 to Russia.

Western companies stopped operations in Russia after the Russia-Ukraine war began on Feb 24.

As Chanel told the BBC, EU and Swiss sanctions also ban the sale of luxury items to individuals who want to use them in Russia.

The French luxury fashion house said it “complies with all laws applicable to our operations and employees throughout the world, including trade sanctions laws”.

So far, NATO estimates that up to 40000 Russian soldiers have been killed, wounded or taken prisoner in Ukraine, more than 150,000 Russian troops are now involved in the war in Ukraine.

According to UN estimates, at least 1,480 civilians have been killed in Ukraine and 2,195 injured, with the accurate figure suspected to be much higher.

The UNHCR report shows that more than 4.24 million Ukrainians have fled to other countries, with millions more internally displaced.

Companies suspending Russia operations

Companies suspending Russia operations

Technology
Apple halted its product sales in Russia and limited Apple Pay and other services there.
Microsoft, another US-based multinational software company, announced the suspension of all new products and services in Russia.
Google also blocked the download of mobile applications of Russia Today and Sputnik, as well as YouTube and Google News.
Dell Technologies has stopped sales in Russia, while Oracle has stopped operations in the country.
South Korean technology giant Samsung has ceased deliveries to Russia.
Nikon and Canon, as well as the electronics manufacturer Panasonic, Adobe, Intel and AMD were among the many companies that either suspended operations or halted sales in Russia.

Food
Finland’s biggest food company, Fazer, announced it had ended all operations in Russia amid the war in Ukraine.
Danone, whose Russian market represents 5% of its global sales, suspended its investments and closed one of its two factories, but it continues production and distribution in the country.
Additionally, McDonald’s announced that it would pull out of the Russian market and close its restaurants “temporarily.”
Starbucks Corporation, the US-based multinational coffeehouse chain, has also announced that it has suspended all business operations in Russia.
They were joined by American beverage giants PepsiCo and Coca-Cola Companies, who suspended their operations in the country as well.
Yum Brands Inc., the company which operates KFC and Pizza Hut restaurants in Russia, halted investment and ceased operations there, redirecting all profits to humanitarian efforts.

Social media – entertainment
In addition, Netflix stopped operations and postponed four Russian series.
TikTok, the video-sharing social network based in China, has also suspended its operations in the country.
Epic Games, the US video game developer, has halted trading with Russia due to the Ukraine war.
The world’s largest record label, Universal Music Group, has suspended all operations in Russia due to the ongoing conflict in Ukraine.
EA, the developer of video games, stopped selling its games and other content, including virtual currency bundles, in Russia and Belarus.
In addition, Spotify closed its Russian office.

Finance
Visa and MasterCard, as well as other international credit card companies, have suspended operations in the country.
The online payment platform PayPal has suspended its services in Russia too.
American Express, the U.S.-based multinational payment card company, has suspended operations in Russia and Belarus.
Both KPMG and PwC announced their suspension of operations in Russia.
In addition, KPMG will cease operations in Belarus.
Deloitte and Ernst & Young have announced that they will no longer work with the Russian government.

Aviation
Airbus and Boeing, which are based in the US and Europe, stopped exporting to Russia.
Under Western sanctions, Airbus stated that it was assessing whether it would be able to provide technical services to customers in Moscow.
Boeing has also announced it has halted all purchases of Russian titanium.
While Lufthansa Technik ended operations in Russia, AerCap, the world’s largest chartering firm, severed ties with Russian airlines.
The European Space Agency also cut ties with Russia.
It is likely that the agency will have to postpone the ExoMars program due to the suspension. Rosalind Franklin, built in the UK, was due to launch on a Russian rocket.

Automotive
Volkswagen and BMW have ceased local production in Russia.
Volkswagen Group includes Audi, Seat, Scania, Skoda, Porsche, and Volkswagen.
The Japanese automaker Toyota also halted operations in St. Petersburg until further notice.
The Honda Motor Company has suspended shipments to Russia of its vehicles and motorcycles.
Daimler Truck, which produces armored vehicles for the Russian army, ceased all commercial operations there, including collaborations with Kamaz, the country’s largest truck manufacturer.
Volvo of Sweden, Ford of the US, Mazda of Japan, Jaguar, Land Rover, and Aston Martin of the UK were among the other companies to announce suspensions.
As well, Harley Davidson has stopped delivering motorcycles to Russia.

Textile, retail trade
The Spanish textile retailer Mango temporarily halted sales at 120 Russian stores and ceased exports to Russia.
The sportswear giant Adidas ceased to partner with the Russian Football Union. It also suspended its stores and website in Russia.
Nike and Puma, two major sportswear companies, have also stopped operations in Russia.
One of the world’s largest textile retailer, H&M, suspended its operations in Russia, while Inditex, which owns Zara, Bershka and Pull&Bear, closed its more than 500 stores in Russia.
Also, IKEA, the Swedish furniture retailer, has suspended operations in Russia and Belarus.
Marks & Spencer will no longer supply goods to its franchised stores in Russia.
PVH Corp. announced that its stores will be temporarily closed and all retail activities suspended in Russia and Belarus. Besides Tommy Hilfiger and Calvin Klein, the company licenses Kenneth Cole New York and Michael Kors.
In Russia and Belarus, Amazon Web Services announced that it was not accepting new customers.
The British baby product retailer Mothercare suspended operations in Russia.
Fashion retailers Asos and Stradivarius, as well as luxury textile producers Gucci, Hermes, and Massimo Dutti, have suspended operations.
The luxury watchmaker Swatch Group, owner of Omega and Blancpain, has also stopped sales in Russia.

Energy
British Petroleum (BP) and Shell stopped operating in Russia by ending their partnerships with Russian companies.
The Norwegian energy giant Equinor has agreed to exit joint ventures in Russia and halt new investments in the country.
Total Energies of France, ExxonMobil of the United States, Eni of Italy, Siemens Energy of Germany, Trafigura of Singapore, and Glencore of Switzerland have all suspended their investments or activities in Russia.

Industry
An engineering firm from Sweden has ceased operations in Russia, while an industrial vehicle manufacturer from Sweden has stopped deliveries.
Metso Outotec, a Finnish engineering company, stopped deliveries in Russia as well.
Norwegian company Norsk Hydro, which operates in the aluminum and renewable energy sectors, announced due to current agreements, it will no longer deal with Russian producers.
Siemens, another German-based industrial giant, has likewise ceased supplies here but will continue local repair and maintenance services.

Cargo
The US-based FedEx and UPS suspended deliveries to Russia as a result of the war.
Maersk, the world’s largest container delivery company, has also stopped all deliveries to and from Russia.
Deutsche Post and Hapag Lloyd suspended deliveries to Russia.
MSC, another container giant, likewise stopped all load delivery operations, except for humanitarian aid and medical supplies.

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