As the Russian invasion continues, more companies continue to announce they are no longer doing business with Russia.
On Monday, Italian fashion group Prada and Japanese carmaker Nissan were the latest businesses to withdraw.
Prada has suspended its activities in Russia, citing Russia’s invasion of Ukraine. The Prada Group also owns Miu Miu, Car Shoe, Churches and Marchisi.
Prada spokeswoman Marta Monaco told CNN: “Prada Group has suspended its retail operations in Russia. Our main concern is for all colleagues and their families affected by the tragedy in Ukraine, and we will continue to support them.” The announcement follows a pledge by Prada and other Italian fashion houses to help Ukraine. Supporting companies include Armani, Bottega Veneta and Dolce & Gabbana.
Responding to the donation, UNHCR Representative in Italy Chiara Cardoletti said: “We estimate that 12 million people in Ukraine will need assistance and protection, while more than 4 million Ukrainian refugees may need protection and care in neighboring countries in the coming months. . Referring to the need for immediate assistance, Caedoletti added in her news statement: “Huge resources are needed and therefore we hope that other companies in the fashion sector as well as other sectors will also contribute in the coming hours.”
Today, Nissan announced the suspension of car exports to Russia. In a press release published by the company, the Japanese manufacturer added that it “expects an early stop of production at our plant in St. Petersburg.”
The statement highlights Nissan’s commitment and support to help with the humanitarian crisis in Ukraine through the creation of a €2.5 million (about $2.7 million) fund. “1 million euros will be donated to the Red Cross and other non-profit organizations to support ongoing emergency efforts, which are currently providing life-saving assistance and basic necessities to families and children. Where it can help, the company is also willing to donate vehicles. .”
Company CEO Makoto Uchida said, “We have all been touched by the suffering of so many individuals and families, including members of our own Nissan family. We created the Nissan Cares Foundation to support our employees and to support the international effort working around the clock to respond to this immeasurable human tragedy.”
Other car companies that are ending their business with Russia include: General Motors, Toyota and Volkswagen.
On Sunday, American Express became the latest credit card company to announce it would cease operations in Russia as its invasion of Ukraine escalates.
The company said in a statement that American Express cards issued worldwide will no longer work in Russia, and cards issued in Russia will not work outside the country.
American Express also announced the termination of its activities in Belarus.
“This is in addition to previous steps we have taken, including terminating our relationship with banks in Russia, which were impacted by U.S. and international government sanctions,” American Express said in a statement Sunday.
A day earlier, Mastercard said it was suspending its network services in Russia, while Visa also announced it was suspending all operations there.
Social networks also restrict access in Russia. In the latest move, TikTok said on Sunday it was suspending some features in Russia in light of the country’s new law penalizing misinformation.
“In light of Russia’s new ‘fake news’ law, we have no choice but to suspend live streaming and new content for our video service while we consider the security implications of this law,” the company tweeted. “Our in-app messaging service will not be affected.”
The company added in a blog post: “We will continue to evaluate changing circumstances in Russia to determine when we can fully resume our services, making safety our top priority.”
Facebook parent company Meta said it would block access to Russian news outlets RT and Sputnik in the European Union.
The move comes after receiving “requests from a number of governments and the EU to take further steps with respect to Russian state-controlled media,” Nick Clegg, the company’s vice president of international affairs, tweeted.
Meta also said it has applied algorithmic restrictions to Russian state-owned media that should prevent them from appearing in users’ feeds.
Twitter also announced plans to “reduce the visibility and amplification” of Russian state media content.
A number of companies are leaving Russia. More here.