- American multinational technology company, Apple, was the latest brand to limit its services in the Eastern European country
- On Wednesday, March 2, Canadian software company Blackberry announced it had ceased all business activities in Russia with immediate effect
- German multinational software corporation SAP SE announced it had discontinued the sale of its products in Moscow in line with the sanctions by the European Union and allies
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As the Russian-Ukraine war escalates, some multinational companies have suspended their operations in Russia in corporate backlash.
American multinational technology company, Apple, was the latest brand to limit its services in the Eastern European country.
We look at some of the giant companies that have closed or temporarily halted sales in Russia.
The tech giant halted the sale of its products in solidarity with victims of violence by Russian soldiers.
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On Tuesday, March 1, the iPhone maker stated it had stopped exporting its products to the country and would pause sales.
In a statement, the company said it stood with all the people who had suffered because of the invasion.
“We are deeply concerned about the Russian invasion of Ukraine. We are supporting humanitarian efforts, providing aid for the unfolding refugee crisis, and doing all we can to support our teams in the region," it said as reported by Al Jazeera.
The tech giant also removed RT News and Sputnik News applications from App Stores outside the country.
Apple's iPhones are the third best selling smartphone in Russia.
On Wednesday, March 2, the Canadian software company announced it had ceased all business activities in Russia with immediate effect.
"This includes ceasing supporting existing customers, transactions with prospective customers, and access to our products in Russia," it said.
Blackberry stated it would revisit the decision in future considering the turn of events.
The streaming giant has stated it would pause all its future projects and acquisitions in Russia as it continues to assess the situation.
The filming for the production of the Russian language series Zato would also be affected as it production was stopped.
On Wednesday, US tech company Oracle stated it had suspended operations in the Russian Federation in solidarity with Ukrainians.
"On behalf of Oracle’s 150,000 employees around the world and in support of both the elected government of Ukraine and for the people of Ukraine, Oracle Corporation has already suspended all operations in the Russian Federation," it said in a statement.
Ukraine's Minister for Digital Transformation has earlier sought support from Oracle and its rival SAP SE.
5. SAP SE
The German multinational software corporation announced on Tuesday that it had discontinued the sale of its products in Moscow in line with the sanctions by the European Union and allies.
"We are stopping business in Russia aligned with sanctions and, in addition, pausing all sales of SAP services and products in Russia," the company's chief executive officer Christian Klein said
He further revealed they would disburse $1.11 million (KSh 126.4 million) in humanitarian support towards Ukraine.
6. Nike, other Sportswear and fashion companies
Nike, Adidas and Puma have not been left behind according to the New York Post.
Russians cannot access Nike's merchandise on its app while Puma has stopped deliveries to its 100 stores in the country.
Adidas on the other hand dealt a big blow to the Russian Football Union after suspending partnership.
7. General Motors and other vehicle dealers
General Motors, Volvo, Ford, Harley-Davidson, Honda, Jaguar Land Rover and Aston Martin have also suspended sales.
Japanese carmaker Mitsubishi was considering suspending production and sales in Russia.
Russia to be locked out of SWIFT
In other news, the European Union (EU), United States, United Kingdom (UK) and allies have announced they would lock Russia out of SWIFT, a payment system that facilitates international transactions, as reported by Kenya's number one news site, tuko.co.ke.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT), launched in 1973 and based in Belgium, allows cross border payments.
The Bank of Russia has moved to cushion its $ 1.5 trillion economy from shocks by doubling the interest rate from 9.5% to 20%.
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