[volkman10]

Lamborghini And Ferrari Suspend Business With Russia, Make Humanitarian Donations To Ukraine.

two of the biggest supercar makers are making moves to support those affected. Both Ferrari and Lamborghini have decided to completely suspend all business with Russia with the former also donating one million Euros to support Ukrainians in need

That falls directly in line with many other automakers including Volkswagen, Porsche, Chevrolet, and Ford who have all done the same.

That small part is a donation of a million euros that “will fund international humanitarian projects supporting Ukraine as well as local initiatives focusing on the reception of refugees in the Italian region.” Ferrari also says that some funds will be used for fleeing Ukrainians that will be hosted in the area surrounding Maranello.

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Meanwhile, Russia proposes nationalising foreign-owned factories that shut operations!

United Russia proposes nationalizing production plants of the companies that announce their exit and the closure of production in Russia during the special [military] operation in Ukraine.
We will take tough retaliatory measures, acting in accordance with the laws of war

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[volkman10]

VAG group's statement on operations in Russia:

[Gansan]

Coke and Macdonald shutting shop is one thing. They are junk anyway. But Mastercard and Visa pulling out, exclusion from SWIFT etc will disrupt, even cripple the Russian financial system. Which can be considered an act of war. If Russia is pushed into a corner, it will somehow try to pull the western nations into the war. It will have nothing to lose.

How are they planning to stop Russian exports to countries which are willing to buy from them? Blockade their ports?

[volkman10]

More companies are cutting ties with Russia over Ukraine invasion:

Nissan has suspended the export of vehicles to Russia, adding that it "anticipates that production will stop soon at our plant in St. Petersburg."

Roku, which sells hardware allowing users to stream content through the internet, has banned RT worldwide.

Intel has stopped all shipments to Russia and Belarus.

IBM has suspended all business in Russia.

Accenture is discontinuing its business in Russia as it "stands with the people of Ukraine.

In a similar move, Deloitte announced that it would stop operating in Russia and Belarus.

Consulting and accounting firm KPMG International leaves Russia and Belarus.

General Electric suspended most of its operations in Russia, with the exception of "providing essential medical equipment and supporting existing power services.

Moody's said it is suspending commercial operations in Russia.

Heineken will stop producing and selling beer in Russia.

Inditex, the parent company of Zara, said it is pausing operations in Russia and closing 502 stores in the country.

Mothercare is suspending business in Russia and stopping shipments there.

German sports company Puma said it is suspending operations of all of its stores in Russia.

Procter & Gamble has "discontinued all new capital investments in Russia" and is "suspending all media, advertising, and promotional activity."

Estée Lauder Companiessuspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia.

UPS and FedEx have suspended operations in Russia and Belarus.

MSC Mediterranean Shipping Company are both halting cargo bookings with Russia.

French train maker Alstom said that it will "suspend all deliveries towards Russia.


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[volkman10]

Suzuki Suspends Exporting Cars To Russia And Ukraine.

These markets combined contribute to roughly a tenth of Suzuki Hungary's exports.

Suzuki Hungary exports 10,000 cars per year to both Russia and Ukraine. In order to offset the deficit caused by the suspension of exportation, Suzuki plans to shift the affected orders to other markets.

Source:Suzuki

More companies stall Russian operations:

- Restaurant Brands International, which owns Burger King, is ending corporate support for the roughly 800 locations operated by local franchisees in Russia, and will not approve any additional investment or expansion.

-Mars, the maker of M&M’s and Snickers, has suspended new investments in Russia.

- Adidas would suspend sales in Russia, cutting 1 percent from its expected revenue growth this year. The company has about 500 stores in Russia and the former Soviet states.

-Carlsberg, the world’s third-largest brewer, said it had halted investments and would stop selling its flagship beer brand in Russia.

-Hyatt and Hilton, the hotel chains, suspended development work in the country, and Hilton closed its corporate office in Moscow.

-Amadeus and Sabre, which provide ticket sales technology to airlines, cut ties with Aeroflot, the national flag carrier and the largest airline in Russia.

-Stellantis, the maker of Jeep, Fiat and Peugeot vehicles, has suspended imports and exports.

- Caterpillar, which makes construction and earth-moving equipment, is pausing manufacturing in Russia.

-Hitachi, the Japanese industrial company, said it was suspending exports to Russia and pausing manufacturing

- McKinsey & Company said it would not take on any new work in Russia, would stop work for state-owned entities and “will no longer serve any government entity in Russia.”

- Boston Consulting Group will not take on any new clients in Russia and has “started to wind down work where possible and will not take on any new work.

- Goldman Sachs “is winding down its business in Russia in compliance with regulatory and licensing requirements.” It was the first big American bank to exit the country.

[Gansan]

What about Monsanto? Have they pulled out? I read they are testing GM seeds and plants, which are not allowed in other countries, in thousands of acres in Ukraine.

[volkman10]

More companies move out as Russian move towards the end of Globalization.

- Norway's $1.3 trillion sovereign wealth fund will divest shares in 47 Russian companies as well as Russian government bonds

- JPMorgan Chase (JPM), America's largest bank, said it is "actively unwinding" its Russian business and not pursuing any new businesses in the country.

- Western Union (WU) said in a statement that it is suspending operations in Russia and Belarus.

-PayPal (PYPL)said the company is suspending services in Russia.

-AB InBev, the maker of Budweiser and other beer brands, said it has "requested the controlling shareholder" of its Russia operations to suspend the license for the production and sale of Bud in the country.

-Hilton has shut down its corporate office in Moscow and is suspending all new development activity in Russia.

-Marriott (MAR) has closed its corporate office in Moscow, and paused the opening of upcoming hotels and all future hotel development and investment in Russia.

- 3 (MMM) said it has halted operations in Russia

-John Deere (DE), the world's largest agriculture equipment maker, has halted shipments of its products to Russia.

-Dow (DOW) has suspended all purchases of feedstocks and energy from Russia

-Caterpillar said that it is suspending operations in its Russian manufacturing facilities.

-DirecTV is cutting ties with RT

- Disney (DIS) is also suspending the release of its theatrical films in Russia

-Inditex, the parent company of Zara, said it is pausing operations in Russia and closing 502 stores in the country.

-Mondelez (MDLZ) said it would scale back all non-essential activities in Russia

-German sports company Puma said it is suspending operations of all of its stores in Russia

- Procter & Gamble has "discontinued all new capital investments in Russia" and is "suspending all media, advertising, and promotional activity."

-French train maker Alstom said that it will "suspend all deliveries towards Russia"

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[volkman10]

Originally Posted by volkman10

Suzuki Suspends Exporting Cars To Russia And Ukraine.

--

Suzuki's stand on Ukraine,

As a humanitarian support for those affected by the events taking place in Ukraine, Suzuki Motor Corporation has decided to donate a total of 1 million Euros from Suzuki and the Suzuki Group companies in Europe to the Office of the United Nations High Commissioner for Refugees (UNHCR), etc.

The donation can help ensure that those forced to flee their homes are sheltered and safe.

We wish that the situation will be brought to an end as soon as possible, and that there will be #peace for all.

[volkman10]

Renault stops making cars in Russia and is considering selling its stake in AvtoVAZ.

The activities of the Renault plant in Moscow have been suspended as of today. In addition, and what may be even more important, Groupe Renault is currently evaluating what to do about its participation in AvtoVAZ. The company says it will act "responsibly" with its 45,000 employees in Russia.

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[volkman10]

Finland to stop EU's last direct train link with Russia.

Finnish train operator VR will stop its twice-daily service from Helsinki to St Petersburg, closing down the last remaining rail route for Russians who want to travel directly to the EU.

The services will wind down this coming weekend, with the last trains departing from both cities on Sunday 27th March.

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[volkman10]

Sales in Russia have fallen by 63% in March, sanctions have been noticed.

Russian car sales collapse as Ukraine war leads to supply, price shocks.

Car prices rose an estimated 40 percent in March as automakers from Toyota to VW halted production.

The collapse in car sales comes with consumers shifting their spending to essentials as they brace for a recession brought on by the war. Vehicle prices rose 40 percent in March .


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[volkman10]

India's Tata Steel to stop doing business with Russia.

The company imports coal from Russia for its steelmaking process.

Recently, Infosys said last week it would move business out of Russia.

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[volkman10]

Renault to exit Russia.

Renault to offload its stake in Lada maker for one rouble.

will transfer its 68% stake in Russia's biggest carmaker Avtovaz to an auto research institute for one symbolic rouble

Renault's factory in Moscow, which produces cars under the Renault and Nissan brands, would be passed to the city's government,

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[volkman10]

Renault sells Soviet-era icon Lada as it exits Russia.

the French company said it had agreed to sell Renault Russia to the city of Moscow and its stake of nearly 68% in Lada parent Avtovaz to a state-owned industry research center.

Renault is keeping open the option of returning to Russia — the deal gives the company various windows to buy back its interest in Avtovaz over the next six years

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Ukraine war sanctions force Russia to lower safety and environmental standards for new cars

It includes the production of cars without Anti-Lock Braking System (ABS) sensors, airbags or Emergency Locking Retractors (ELR) for seatbelts. The decree is in effect until February 1, 2023.

Russia will also significantly reduce its environmental standards for cars, bringing them back to standards for vehicles produced in 1988.


Source:

[volkman10]

Nissan exits Russian market, sells it assets to Moscow!

Nissan takes $687 mln loss as sells Russian business for 1 euro.

Sale to Russian state-owned entity NAMI
Nissan has right to buy back business within six years
Renault sees 331 mln euro hit to H2 net income from mov

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