More global brands quitting Russian market

More global brands quitting Russian market

The international isolation of the aggressor power continues as more and more international companies are pulling out of Russia.

This was announced by the Center for Strategic Communication and Information Security on Telegram, Ukrinform reports.

It is noted that Singapore has imposed sanctions against Russian banks and banned supplies of dual-use products to Russia.

At the same time, Fitch downgraded dozens of Russian companies, including Avtodor, Russian Post, Rusnano, Russian Railways, FPK, Inter RAO, RusHydro, and Rosset.

Read also: Russian economy going south

Technology giants are also withdrawing from Russia. In particular, Japan’s Komatsu, one of the world's largest manufacturers of construction equipment, has stopped supplying products to Russia.

Hitachi Corporation has stopped production in and exports of equipment to the country.

South Korea’s Samsung has stopped supplying Russia with phones, appliances, and microchips.

In addition, the jewelry brand Cartier closed its stores in the country.

Read also: Kuleba calls on Western countries to impose new sanctions on Russia, to provide combat aircraft immediately

The boutiques run by fashion brands Gucci, Balenciaga, and Yves Saint Laurent, all owned by the Kering group, are also closing.

The Marks&Spencer brand ceases supplies of its products to Russia, also announcing the transfer of funds to help Ukrainian refugees.

Electronic Arts stops selling games and content to Russia and Belarus. The company owns the rights to such hits as FIFA22, Battlefield, Need for Speed, and more.

As Ukrinform reported earlier, Sweden’s furniture giant IKEA has decided to suspend its operation in Russia and Belarus due to the ongoing war in Ukraine.

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