Business & Economy

Russia and Ukraine war – Private firms around the world sanctions on Russia.

In the ongoing war between Ukraine and Russia, Several private firms have taken lethal decisions against Russia. These sanctions’ motive is to divest Russia’s economy in every way possible.

Economic experts believe that if this continues for a few days, Russia might end up in a worse state than we would have never imagined.

At present, These sanctions have caused the shut down of the Moscow stock exchange for two days in a row, leading investors to avoid Russian interests.

What are the steps taken by Companies?

Talking about well-known energy Giant Shell has confirmed to stop all Russian operations including canceling its Partnership with Russia’s state-owned gas firm. 

‘Equinor’an oil and gas company deprived its Russian joint ventures by halting a deal which was 30 years ago.

Tech giants like Intel have suspended all their product sales to Russia, and Intel is stopping chip shipment to Russia.

The famous social networking company Facebook is not allowing any Russian advertisements on their Websites.

Parallelly Twitter has inhibited access to Russian handles, meanwhile, Google has blocked the transaction of advertisement money which is about to go to Russian state media through youtube and website apps.

A financial institution like British HSBC bank is cutting down ties with several Russian banks. The world-famous Nasdaq stock which is second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock exchange has stopped trading for Russian Companies for the time being. The same step has been taken By the Newyork stock exchange. The prestigious sports organization ‘FIFA’ Has banned Russia from all international games which are going to be held in the future. Following the same path, UEFA, a football organization, barred Russia from attending any of its further events.

The International Olympic Committee(IOC) has banned both Russian and Belarusian athletes from participating in the Olympics.

Formula-1, an international racing for open-wheel single-seater cars, has canceled this year’s event in Russia.

Transport gains FedEx and UPS have stopped shipments to Russia.

Delta Airlines of America has broken its alliance with Russia’s Aeroflot.

American multinational entertainment and media Disney stopped launching their movies into Russian theatres.

Entertainment platform Netflix has suspended all of the Russian streaming into its platform, and singing competition Eurovision Won’t allow any singers from Russia.

These united measures from all companies around the world bolster the people of Ukraine in any way possible and have shown the consequences that Russia should face in the coming days.

 

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