Russia Ukraine Crisis 2022! – From Oil and Gas to Technology Giants, a lot of companies are pulling back their business interests from Russia. Visa stated it will suspend transactions “in the coming days,” so Russian cards will not work abroad as smoothly as foreign cards. Mastercard announced a similar suspension, indicating that Russian bank cards will no longer be supported.

Here are some key business areas and firms that have suspended their operations in Russia in the wake of the ongoing crisis.

Oil and Gas

British Petroleum owns a major investment in the Russian energy giant (Rosneft) but stated it would separate out the investment. Following that, Shell, ExxonMobil, and Equinor all promised to reduce their Russian interests in response to shareholder, government, and public pressure.

Retail

Nike has stopped online orders in Russia. The company stated there is no guarantee that goods would be delivered to customers in Russia. Ukraine’s member of parliament welcomed the company’s move. He stated it was a good example of how private businesses could put restrictions on Russia.

Ikea has closed 17 stores in Russia. In addition, Hennes & Mauritz (H&M) – clothing company has halted sales to Russia and shut down its Russian websites. According to Burberry, it was “impossible to complete orders in Russia” and therefore it was suspending all shipments.

Entertainment

Netflix and Spotify

Netflix has said that it will not be working on any new projects or buying any more businesses in Russia. The company said, “It was looking into how the current invasion of Ukraine was going to affect them in the long run.” Filming for the Russian-language series Zato is put on hold.

Spotify has shut down its offices in Russia. The company called Moscow’s “unprovoked attack on Ukraine.” According to Spotify, it has looked at a lot of content since the start of the war. Thus, it has limited how people can find shows that are run by Russian state-affiliated TV.

Gaming Industry

Electronic Arts have removed the Russian national team and all other Russian teams from games like Fifa 22 and similar games. The company said, “It stands side by side with the Ukrainian people!”.

Technology

Apple, Google and Samsung

Apple said that it was “highly concerned” about the Russian invasion and that it stands with those who are “enduring because of the violence.” Apple Pay and other services, like Apple Maps, have also been reduced.

Google has taken away features from Russian state-owned media like Russian tv. People who work for news organisations that are funded by the Russian government can’t use some of the tools and features on YouTube.  However, the majority of Google’s services (like Search, Maps, and YouTube) are available in Russia. So, this gives people around the world access to global information and perspectives.

Samsung Electronics Co. has stopped shipping its products to Russia. The company stated that all exports of its products to Russia, from chips to phones and other consumer electronics, have been stopped.

Sports

FIFA and Uefa said that Russian teams and clubs could not play in any competitions “until further notice,” but they didn’t say when that might be. It says it will go to the Court of Arbitration for Sport (Cas) to fight its ban from international competitions after the country invaded Ukraine.

Satellite Communications

OneWeb, a satellite company owned by the British government, says it will stop all launches from the Baikonur space station in Russia. A lot of flights from the space station were planned for this year to finish the broadband internet constellation in the sky.

 

Curious Times is a place where we’re passionate about what we do. Consequently, we work hard every day to give our young readers the greatest possible experience and information. We also use Curious Times Weekly, The Curious Magazine, and My Expressions to communicate with our audience.  As a result, our content is exciting and interesting for our readers.

Schoolchildren from all around the world appreciate and enjoy our materials. So, we’re always looking for ways to improve, and are curious to hear from you. This, above all, assists us in providing better service to you.

Thus, what sort of news stories capture your interest? In the comments section below? Please share your thoughts! For the simple reason that we enjoy hearing from our young readers. The following social media platforms allow you to communicate with us: WhatsApp, Instagram, Facebook, Youtube, Twitter, LinkedIn.

  0  (Please login to give a Curious Clap to your friend.)

To post your comment Login/Signup