Samsung Suspends Product Shipments To Russia

Samsung has suspended shipments of geopolitical developments to Russia after Russia’s attack on Ukraine. Samsung is the largest memory chip manufacturer and leading smartphone company in South Korea. Earlier, Apple also ended its relationship with Russia.

Samsung said that we will continue to actively monitor this complex situation to determine our next step. Sports organizations and large companies of the Weston Government have cut their connections with Russia.

Even before this, companies of many different sectors have ended their operations in Russia.

Action of tech companies against Russia

Apple: Apple has decided to stop selling all its products in the Russian market. The company is also making changes to its map to help the common people of Ukraine.

Google: Alphabet’s company Google says it is blocking mobile apps linked to Russian broadcasters RT and Sputnik. The company has already removed Russian state-run media companies from news services.

Microsoft: Microsoft has removed the Russian state media company RT’s app from the Windows App Store. Advertising of government media companies is banned.

Nokia: Finnish company Nokia has announced to stop supply in Russia while implementing the sanctions. The company supplies goods to MTS, Vimplecom, Megafon and Tele2 of Russia.

Automobile companies’ action against Russia

Renault: French car company Renault is going to stop some activities at the car assembly plant in Russia. The reason behind this is being told mainly due to logistical problems. Renault is one of the western companies most likely to be hit by the sanctions. 8% of the company’s earnings come from Russia and Renault also controls Russia’s largest car company AvtoVAZ.

Ford Motors: Ford Motors has decided to wind up its joint venture with Russian company Solars. The company has announced the closure of all operations in Russia until further notice. Ford is the first international car company that launched its assembly line in Russia.

BMW: German auto company BMW has also refused to send its cars to Russia. The company is also shutting down production from its plant in Russia.

Harley Davidson: American motorcycle maker Harley Davidson has closed its business in Russia. The company is not even sending a separate slot of its bikes to Russia.

Jaguar Land Rover: Britain’s luxury car company Jaguar Land Rover has stopped sending cars to Russia with immediate effect. The control of this company is with Tata Motors of India.

Aston Martin: Another UK luxury car company Aston Martin has also stopped supplying cars to Russia. Russia and Ukraine account for just less than 1% of the company’s total operations.

Daimler Trucks: Truck maker Daimler has announced the closure of its business in Russia with immediate effect. This also includes a collaboration with the Russian truck maker KAMAZ. Daimler’s parent company Mercedes says it wants to sell its 15% stake in Kamaaz as soon as possible.

Volvo Cars: Swedish car company Volvo says it is holding off on shipping its cars to the Russian market until further notice. In 2021, the Volvo company sold a total of 9,000 cars in the Russian market.

General Motors: General Motors has also announced to stop the supply of vehicles to Russia until further notice. This company from Detroit of America does not have any plant in Russia. Every year this company sells about 3,000 cars in Russia.

Mitsubishi: Japan’s Mitsubishi Motors may also stop producing and selling cars in Russia. The company fears that the economic sanctions may disrupt the company’s supply chain.

Aviation companies’ action against Russia

Boeing: US aircraft maker Boeing has said it is discontinuing the delivery, leasing as well as parts, maintenance and technical support of new aircraft to Russian airlines. The company has also closed its office in Kyiv for the time being.

Aircap Holding: Aircap Holding, the world’s largest leasing company, has announced to stop all leasing activities for Russian airlines. More than half of the planes of Russian airlines are leased. In 2021, 5% of Aircap Holding’s aircraft were leased in Russia.

Energy companies’ action against Russia

Shell: American petroleum company Shell has announced it will exit Russia’s business. It also includes the Sakhalin 2 LNG Plant. Shell holds a 27.5% stake in it, while the Russian company Gazprom owns and operates a 50% stake.

Exxon Mobil: Exxon Mobil has announced the closure of its operations in Russia’s oil and gas sector. At present, this company is being valued at $ 4 billion in the Russian market. The company will no longer make new investments in Russia.

ENI: Italian energy company ENI is going to sell its stake in the Blue Stream pipeline. The pipeline is designed to transport Russian gas to Turkey and the Russian company Gazprom also has a stake in it. In 2020, ENI bought about 22.5 billion cubic meters of gas from Russia.

OMV : Austrian energy companies group OMV in Gazprom’s gas field project It has canceled plans to buy a stake and is rethinking its role in the Nord Stream gas pipeline. This pipeline was built to bring Russian gas from the Baltic Sea to Germany and Germany has already refused to start its supply.

Equinor: Norwegian energy company Equinor is also exiting Russian joint ventures. The company has been present in Russia for more than 30 years and in 2012 it started a wide partnership with Rosneft.

Oersted: Denmark’s Oersted Company has announced that it will stop supplying coal and biomass to power plants in Russia. However, the company will continue to buy two billion cubic meters of natural gas every year from Gazprom. There is a long term agreement between the companies for the purchase of gas.

British Petroleum: British Petroleum has decided to liquidate its 19.75% stake in Russian oil company Rosneft.

Action of design companies against Russia

Adidas: Sports clothing and footwear major Adidas has terminated its partnership with the Russian Football Association with immediate effect.

Nike: Nike has stopped purchasing its products through its website and app in Russia because it cannot currently take responsibility for delivery in Russia.

Companies like Entertainment, Finance also revolted

HSBC: International bank HSBC has said that it is terminating its business relationship with Russian banks. Many more banks are in partnership with HSBC, including Russia’s second largest bank VTB. However, only 200 employees of the company are in Russia and Russia’s stake in the $ 50 billion company is only $ 15 million.

Hollywood: Hollywood’s Disney, Warner Bros. and Sony Pictures Entertainment have said they will not show their upcoming films in Russian theaters.

UPS, FedEx, DHL: UPS and FedEx, the world’s two largest freight companies, have said they are halting delivery of goods to Russia and Ukraine. At the same time, the German postal company Deutsche Post has said that DHL is stopping the delivery of mail and parcels in Russia.

Kuehne + Nagel: The Swiss freight company Kuehne + Nagel has indefinitely stopped the movement of goods into Russia with immediate effect. It does not include items of medical, healthcare and humanitarian aid.

Samsung Suspends Product Shipments To Russia

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