Strange IndiaStrange India



The Russia-Ukraine conflict has sent the crude oil prices boiling.New Delhi: Many companies and global brands have suspended their operations in Russia after it attacked Ukraine. The United States, European Union and other Western nations have also imposed fresh sanctions on Russia as the war entered its 12th day. The Russia-Ukraine conflict has sent the crude oil prices boiling to above the $130 per barrel mark on Monday and pushed investors for safe-haven buying.Here are the companies which have ceased operations in Russia so far:* Accounting and financial services companies:British-Dutch multinational professional services network KPMG; professional services network PricewaterhouseCoopers (PWC); and payment card services giant American Express have stopped their respective operations in Russia.* Entertainment and messaging companies:Global streaming entertainment service Netflix; and instant messaging app Snapchat have also ceased their operations in Russia.* Technology companies:Apple has paused selling its products (both offline and online) in Russia.Microsoft has also stopped “other aspects of business in Russia.Alphabet Inc’s Google has blocked the Russian news outlets RT and Sputnik.Meta (formerly Facebook) also blocked the Russian state media houses.Samsung Electronics also suspended its shipments to Russia.* Automobile companies:Mercedes-Benz has stopped manufacturing and passenger car export in Russia.Ford and General Motors have discontinued their operations in the country.* Retail companies:American company PVH, which operates Calvin Klein and Tommy Hilfiger, has suspended ops in Russia. Nike, H&M and Ikea also suspended operations in Russia.Further, home rental company Airbnb and payment firm PayPal have also suspended their operation in Russia.



Source link

By AUTHOR

Leave a Reply

Your email address will not be published. Required fields are marked *