Apple, ExxonMobil and Boeing have announced they are withdrawing or freezing their business in Russia as more US corporate giants take action following the invasion of Russia. Ukraine.
The actions, which have already taken place in several industries and precede others such as Disney, Ford and Mastercard, highlight the growing economic cost to Russia to invade Ukraine, a decision that triggered massive sanctions on Western governments.
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ExxonMobil will begin a gradual withdrawal from the giant oil field that has operated since 1995 as part of the Sakhalin-1 project. He expressed that he “deplores the military action that violates the territorial integrity of Ukraine and endangers its people.”
The US company operates on behalf of a consortium that includes Russian, Indian and Japanese companies. It is the only large project left there after the departure of two joint ventures in the sanctions round that followed its annexation of Crimea in 2014.
ExxonMobil’s move followed earlier decisions by British energy group BP and Shell to withdraw from joint projects in the nation led by Putin. France’s TotalEnergies reported that it would stay but would refrain from investing.
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ExxonMobil emphasized that “the process to discontinue operations will need to be carefully managed and coordinate closely with partners to ensure it is executed safely.”
Meanwhile, Apple said it would stop all sales of its products in Russia and limit the use of the Apple Pay payment solution and other services in the country.
For its part, the US aviation giant Boeing reported that it suspended its support services to Russian airlines and its operations in Moscow, a measure that preceded the announcement by US President Joe Biden to ban the use of Russian airspace. country to the planes of that nation.
Russia’s flagship airline Aeroflot, which flies Boeing 737s and 777s, indicated last week that it would suspend flights to Europe in response to the ban.
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Disney and WarnerMedia halted new movie releases in that territory, while tech heavyweights like Facebook, TikTok and Microsoft moved to curb the reach of state-affiliated media Russianaccused of misinforming about the invasion of Ukraine by Moscow.
General Motors has suspended vehicle exports, while Detroit rival Ford said it would halt remaining operations, including making commercial trucks.
Finally, Visa credit card companies, master card and American Express disclosed that they were blocking Russian banks from their payment networks following international sanctions.
With information from AFP.