As Russia’s invasion continues, more companies continue to announce that they’re ceasing to do business with Russia.
On Monday, Italian fashion group Prada and Japanese automobile manufacturer Nissan became the latest businesses to pull out.
Prada has suspended operations in Russia, citing Russia’s invasion in Ukraine. The Prada group also owns, Miu Miu, Car Shoe, Churches and Marchisi.
Prada’s spokesperson Marta Monaco told CNN, “the Prada Group suspended its retail operations in Russia. Our primary concern is for all colleagues and their families affected by the tragedy in Ukraine, and we will continue to support them.” The statement follows a pledge by Prada and other Italian fashion houses to donate aid to Ukraine. Companies giving support include Armani, Bottega Veneta and Dolce & Gabbana.
Responding to the donation, UNHCR’s representative for Italy, Chiara Cardoletti, said, “We estimate that 12 million people in Ukraine will need help and protection, while more than 4 million Ukrainian refugees could need protection and care in the neighboring countries in the forthcoming months.” Citing the need for immediate assistance, Caedoletti added in her news statement, “Enormous resources are needed and this is why we hope that in the coming hours other companies in the fashion sector, and in other sectors as well, will give their contribution.”
Nissan announced today it is suspended the export of vehicles to Russia. In a news statement released by the company, the Japanese manufacturer added that it “anticipates that production will stop soon at our plant in St. Petersburg.”
The statement stressed Nissan’s commitment and support to assisting with the humanitarian crisis in Ukraine by creating a 2.5 million euros fund (about $2.7 million). “1 million Euros would be donated to the Red Cross and other non-profit organizations to support ongoing emergency activities that provide lifesaving assistance and essential supplies to families and children at this time. Where it can help, the company is also prepared to donate vehicles.”
The company’s CEO, Makoto Uchida, said “We have all been moved by the suffering of so many people and families – including members of our own Nissan family. We have created the Nissan Cares fund to stand by our employees, and to support to the international efforts working around the clock to respond to this immeasurable human tragedy.”
Other car companies that are stopping their business with Russia include: General Motors, Toyota, and Volkswagen.
On Sunday, American Express became the latest credit card company to announce it is ending its operations in Russia as its invasion into Ukraine escalates.
The company said in a statement that globally issued American Express cards will no longer work in Russia, and cards issued in Russia won’t work outside the country.
American Express also said it is ending its business operations in Belarus.
“This is in addition to the previous steps we have taken, which include halting our relationships with banks in Russia impacted by the US and international government sanctions,” American Express said in a statement Sunday.
One day earlier, Mastercard said it was suspending its network services in Russia, and Visa also announced it was suspending all operations there.
Social media companies are also restricting access in Russia. In the latest move, TikTok said Sunday it is suspending some features in Russia in light of the country’s new law penalizing misinformation.
“In light of Russia’s new ‘fake news’ law, we have no choice but to suspend livestreaming and new content to our video service while we review the safety implications of this law,” the company tweeted. “Our in-app messaging service will not be affected.”
The company added in a blog post: “We will continue to evaluate the evolving circumstances in Russia to determine when we might fully resume our services with safety as our top priority.”
Facebook parent company Meta said that 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 EU to take further steps in relation to Russian state controlled media,” Nick Clegg, the company’s VP of global affairs, wrote in a tweet.
Meta has also said it has applied algorithmic restrictions to Russian state media that should prevent it from surfacing as prominently in users’ feeds.
Twitter has similarly announced plans to “reduce the visibility and amplification” of Russian state media content.
A whole host of more companies are pulling out of Russia. Read more here.
Source: www.cnn.com