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(Reuters) – Firms have taken motion to restrict, placed on maintain or exit enterprise actions in Russia following a wave of sanctions imposed after Moscow’s invasion of Ukraine.
Under is a listing of corporations which have introduced plans to exit Russia or to curb actions there:
AUTOMAKERS
Daimler Truck stated it will freeze its enterprise actions in Russia with rapid impact, together with its cooperation with Russian truck maker Kamaz.
Its pre-spinoff guardian firm, Mercedes-Benz Group, is trying into authorized choices to divest its 15% stake in Kamaz as shortly as attainable.
Sweden’s Volvo Vehicles stated it will droop automobile shipments to the Russian market till additional discover. Volvo bought round 9,000 vehicles in Russia in 2021, primarily based on trade knowledge.
Common Motors stated it will droop all car exports to Russia till additional discover. The Detroit firm doesn’t have crops in Russia, solely sells about 3,000 autos yearly there and has restricted supply-chain publicity.
Japan’s Mitsubishi Motors stated it might droop manufacturing and sale of its vehicles in Russia as financial sanctions might set off provide chain disruptions.
French carmaker Renault will droop some operations at its automobile meeting crops in Russia subsequent week because of logistics bottlenecks.
Renault is among the many Western corporations most uncovered to Russia, the place it makes 8% of its core earnings, in response to Citibank. It additionally controls Avtovaz, Russia’s greatest carmaker.
Harley-Davidson Inc stated it had suspended its enterprise and shipments of its bikes to Russia.
Ford Motor Co knowledgeable three way partnership associate Sollers it’s instantly suspending operations in Russia till additional discover.
British luxurious carmakers Jaguar Land Rover (JLR) and Aston Martin paused car shipments to Russia.
Aston Martin stated that Russia and Ukraine make up lower than 1% of its world gross sales.
Germany’s BMW has halted the export of vehicles to Russia and stated it will cease manufacturing there.
AVIATION
The world’s greatest plane leasing firm AerCap Holdings, headquartered in Dublin, will stop leasing exercise with Russian airways.
The corporate says about 5% of its fleet by internet e book worth was on lease to Russian airways on the finish of 2021.
U.S. plane producer Boeing stated it was suspending components, upkeep and technical help for Russian airways.
BANKS
World financial institution HSBC is starting to wind down relations with a bunch of Russian banks together with the second-largest, VTB.
The financial institution has little direct publicity in Russia, with round 200 workers and annual revenues of $15 million within the nation, towards its world earnings of $50 billion.
Nordic lender Nordea stated it had suspended buying and selling in funding funds closely uncovered to Russia.
Raiffeisen Financial institution Worldwide (RBI) is trying into leaving Russia, two folks with information of the matter advised Reuters. The Austrian financial institution’s enterprise in Russia contributed nearly a 3rd to group internet revenue final yr. A spokesperson stated RBI had no plans to stop Russia.
ENERGY
France’s TotalEnergies stated it will not present capital for brand spanking new tasks in Russia.
BP is abandoning its 19.75% stake in Russian oil big Rosneft, whereas Shell stated it will exit all its Russian operations, together with the flagship Sakhalin 2 LNG plant by which it holds a 27.5% stake, and which is 50% owned and operated by Gazprom.
Norwegian vitality group Equinor will begin the method of divesting from its joint ventures in Russia. The corporate has been current in Russia for over 30 years, and in 2012 agreed to a strategic cooperation with Rosneft.
Denmark’s Orsted has stopped sourcing Russian coal and biomass for its energy crops however will proceed to purchase as much as two billion cubic metres of pure gasoline from Gazprom per yr below a long-term contract.
Orsted additionally stated it was not getting into into new contracts with corporations or utilizing suppliers from Russia.
Exxon Mobil will exit Russia oil and gasoline operations that it has valued at greater than $4 billion and halt new funding on account of Moscow’s invasion of Ukraine.
Italian vitality group Eni deliberate to promote its stake within the Blue Stream pipeline carrying Russian gasoline to Turkey that it co-owns with Russia’s Gazprom.
Eni holds strategic long-term contracts for Russian gasoline. In 2020 Eni’s gasoline purchases from Russia reached practically 22.5 billion cubic metres.
Austrian vitality group OMV has scrapped plans to take a stake in a Gazprom gasoline area venture and is reviewing its function within the Nord Stream 2 gasoline pipeline.
Centrica, proprietor of Britain’s largest vitality suppler British Gasoline, stated it will exit its gasoline provide agreements with Russian counterparts, principally Gazprom.
FILM AND TELEVISION
Hollywood studios Disney, Warner Bros, and Sony Photos Leisure stated they might pause theatrical releases of upcoming movies in Russia.
INDUSTRIALS
Swedish engineering group Sandvik is suspending its operations in Russia.
Sandvik generated round 3.5% of its 2021 income in Russia. The group has no manufacturing within the nation however about 900 workers in gross sales and companies.
LOGISTICS
U.S.-based United Parcel Service Inc and FedEx Corp, two of the world’s largest logistics corporations, have stated they’re halting supply companies to Russia and Ukraine.
Container transport firm Ocean Community Categorical on Monday suspended bookings to and from Russia.
Transport group Maersk will briefly halt all container transport to and from Russia in response to Western sanctions on Moscow.
Maersk operates container transport routes to St. Petersburg and Kaliningrad within the Baltic Sea, Novorossiysk within the Black Sea, and Vladivostok and Vostochny on Russia’s east coast.
Deutsche Publish, introduced it had stopped DHL deliveries to Russia.
German transport firm Hapag Lloyd stated it had issued a short lived suspension on bookings for Russia and halted sailings for Ukraine.
Transport firm MSC has stopped cargo bookings to and from Russian however will nonetheless settle for and display meals and humanitarian cargoes.
Swiss logistics firm Kuehne und Nagel indefinitely suspends all import shipments into Russia with rapid impact. This excludes medical, healthcare and humanitarian provides.
TECH
Apple has paused all product gross sales in Russia.
Alphabet’s Google stated it has blocked cellular apps related to Russian broadcasters RT and Sputnik from its Play retailer, in keeping with an earlier transfer to take away Russian state publishers from its news-related options.
Microsoft stated it will take away state-owned RT’s cellular apps from the Home windows App retailer and ban ads on Russian state-sponsored media.
Laptop computer maker Dell Applied sciences stated it had suspended product gross sales in Ukraine and Russia.
TELECOMS
Swedish telecom gear maker Ericsson is suspending its deliveries to Russia because it assesses the potential impression of sanctions on its enterprise there.
Nokia will cease deliveries to Russia to adjust to sanctions. It provides MTS, Vimpelcom, Megafon and Tele2 in Russia.
OTHER SECTORS
Finnish tyre maker Nokian Tyres is shifting manufacturing of a few of its key product strains from Russia to Finland and the US.
Nokian produces roughly 80% of its annual capability of 20 million tyres in Russia, the place it employs round 1,600 folks, an organization spokesperson stated.
Finnish chemical firm Kemira discontinued deliveries to Russia and Belarus from March 1 till additional discover.
German sportswear firm Adidas has suspended its partnership with the Russian Soccer Union with rapid impact.
Nike has made merchandise purchases on its web site and app unavailable in Russia because it can not assure supply of products to prospects within the nation.
Swedish house equipment maker Electrolux paused all operations in Russia.
(Compiled by Boleslaw Lasocki, Alexander Kloss, Valentine Baldassari and Izabela Niemiec Modifying by Milla Nissi and Jason Neely)
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