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The moves in diverse industries follow earlier announcements by Disney, Ford, Mastercard and others, and highlight the rising economic toll on Russia after its assault on Ukraine unleashed massive sanctions across Western governments Read more

US tech giant Apple says it has stopped sales of iPhones and other products in Russia

Risk Off mood returned as stock markets dived and safe havens from the USD to US Treasuries rallied. Oil & GOLD markets surged, Brent hit $110/barrel & Gold hit $1950/ounce. More Western companies (Apple, Ford & Boeing,) pull investments from Russia & US banned Russian airlines from its airspace. However, Russian Oil, Gas & Uranium […] The post Market Update – March 2 – Risk-Off Returns first appeared on Forex Trader Hub .

Highlights Lots of sanctions have been imposed on Russia by several countries like the US, European Union, Australia, and the UK. Economic sanctions have become the most preferred tool to overcome geopolitical tensions and hurt the country’s economy. Many industries and businesses across the globe have stopped their services and operations in the country. Russia’s military operations in eastern Ukraine have attracted sharp criticism, and many international leaders have widely condemned the attack. Within days of Russia’s invasion of Ukraine, many sanctions were imposed on the country by several countries like the US, European Union, Australia, and the UK. Economic sanctions have become a preferred tool to overcome geopolitical tensions and hurt a country’s economy that breaches international law. The current sanctions imposed on Russia are meant to discourage its military operations and look for a diplomatic way to handle tensions between the two countries. After the announcement of economic sanctions on Russia, many industries and businesses followed suit and stopped their services and operations in the country. © 2022 Kalkine Media® Let us look at some of the key industries and businesses that announced walkout or discontinuation of operation in Russia: Mastercard & Visa block services Major US-based transaction service provider has blocked Russian financial institutions from accessing their payment networks to comply with the sanctions imposed by the US government.

The Kremlin said on Wednesday that a Russian delegation was ready to continue peace talks with Ukraine as Moscow''s invasion of the pro-Western country entered its seventh day. “Our delegation will be ready to continue talks,” Kremlin spokesman Dmitry Peskov said, adding that Moscow''s delegation expected the talks to resume on Wednesday evening. He said that President Vladimir Putin''s aide Vladimir Medinsky remained Russia''s top negotiator on Ukraine but did not say where the next round of talks would take place. A first round of talks between Russian and Ukrainian delegations took place on the Ukrainian-Belarusian border, but brought no results. Russian troops land in Ukraine''s second-biggest city Kharkiv Meanwhile, Russian forces landed in Ukraine''s second-biggest city and triggered immediate clashes in the streets of Kharkiv, the military said, following Moscow''s relentless air assault across the ex-Soviet state. The airborne operation came as US President Joe Biden branded Vladimir Putin a “dictator”, warning the sanction campaign to cripple Russia''s economy would escalate and its oligarchs were being targeted.

Boeing is just the latest global company to halt operations in Russia or suspend working with Russian companies.

Author: Wed, 2022-03-02 11:42 Apple Inc has halted its product sales in Russia, following the country''s invasion of Ukraine, according to a Bloomberg report. The tech giant said that it stopped exporting products into Russia''s sales channel last week, ahead of pausing sales. In a statement, Apple made it clear that the recent move was in response to the ongoing invasion. The iPhone maker said it will stand “with all of the people who are suffering as a result of the violence.” The company is also removing RT News and Sputnik News applications from App Stores outside Russia. Apart from Apple, other tech giants like Google and Meta had restricted or withdrawing services in Russia since the invasion of Ukraine which began on Feb. 24. Main category: Business & Economy Tags: Russia Ukraine Apple Ukraine Crisis: Brent hits 8-year high at $110; Boeing, Apple cut business ties with RussiaBoeing suspends Russian operations over Ukraine war

Boeing, Ford and ExxonMobil have added their names to the growing list of companies that have ended or suspended their business in Russia over its invasion of Ukraine.

Russian forces landed in Ukraine''s second-biggest city on Wednesday and triggered immediate clashes in the streets of Kharkiv, the military said, following Moscow''s relentless air assault across the ex-Soviet state. The airborne operation came as US President Joe Biden branded Vladimir Putin a “dictator”, warning the sanction campaign to cripple Russia''s economy would escalate and its oligarchs were being targeted. In Biden''s first State of the Union address, he hailed the resolve of the Western alliance and voiced solidarity with Ukraine as lawmakers in the US Congress gave a standing ovation to the Ukrainian people. “A Russian dictator, invading a foreign country, has costs around the world,” Biden told lawmakers in his annual State of the Union address, promising “robust action to make sure the pain of our sanctions is targeted at Russia''s economy”. But as he spoke a Russian escalation was reported to be underway in Kharkiv, an apparent bid by Moscow to capture its first major Ukrainian city of the invasion.

The new sanctions isolate Russia’s aviation sector in a similar way to Iran and North Korea.

US airplane manufacturer Boeing said it was suspending parts, maintenance and technical support for Russian airlines as the effect of sanctions in the wake of Russia’s invasion of Ukraine ripple

Apple, ExxonMobil and Boeing have announced steps to withdraw their operations in Russia as more US corporate giants take action after the Ukraine invasion. The moves — in diverse industries and following earlier announcements by Disney, Ford, Mastercard and others — highlight the rising economic toll on Russia after its assault on Ukraine unleashed massive sanctions across Western governments. Read on

KYIV, Ukraine — Ukraine’s Defense Ministry says it has evidence that Belarus, a Russian ally, is preparing to send troops into Ukraine. The ministry statement, posted on Facebook at midnight, said the Belarussian troops have been brought into combat readiness and are concentrated close to Ukraine’s northern border. “During the past 24 hours, according to intelligence findings, there has been significant aircraft activity. In addition, there has been movement of a column of vehicles with food and ammunition” approaching the border,” the statement said. ___ BOSTON — A firm that tracks cryptocurrency transactions says $33.8 million in the digital currency has been donated to Ukraine’s government and non-governmental organizations there since the start of Russia’s invasion, nearly a third of it on Tuesday. Chief Scientist Tom Robinson of Elliptic said most donations to date have been in bitcoin and ether. Some people are sending non-fungible tokens, or NFTs, to the Ukrainian government’s ethereum account.

"The process to discontinue operations will need to be carefully managed and closely coordinated with the co-venturers in order to ensure it is executed safely," said ExxonMobil in a statement.

There has been a stampede of large U.S. companies in recent days away from Russia affecting nearly every sector.