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Russia has drawn up plans to seize the assets of western companies leaving the country as the Kremlin pushes back against sweeping sanctions and the exodus of international businesses since its invasion of Ukraine. Announcing the move after a string of global firms said they would suspend operations in Russia this week, including McDonald’s, Coca-Cola, and […]

Polish Ambassador Says Sanctions On Russia Should "Last For A Decade, Maybe 15 Years" Poland’s Ambassador to the United States, Marek Magierowski, wants the new US and EU-led sanctions on Russia which came in the aftermath of its Feb.24 invasion of Ukraine to last for ten or up to 15 years. He described in a live interview with CNN’s Christiane Amanpour on Thursday that the sanctions should "last for a decade, maybe 15 years." Also amid allegations that Russian forces are targeting hospitals, which are similar to claims made in Aleppo during Russia''s prior years'' military action there, Magierowski cited "acts of barbarism in Ukraine" that he called "war crimes, atrocities." Poland’s Ambassador to the US, Marek Magierowski On this point, he said, "I do believe and I am confident that Mr. Putin and his cronies and all his closest aides will end up in the dock, in the Hague, in the International Criminal Court, because this is what he has already fully deserved," according to CNN. Here''s what he told Amanpour in the interview on how long-lasting Russia''s total economic isolation should be: “I think that if we wanted to retaliate for that invasion against Ukraine with punitive measures and by crippling the Russian economy, we have to be determined and ready to uphold the sanctions in a longer term .

As Thursday draws to a close in Kyiv and in Moscow, here are the key developments of the day: No breakthrough came from the highest-level Ukraine-Russia meeting since fighting began . Ukrainian Foreign Minister Dmytro Kuleba and his Russian counterpart Sergey Lavrov reached no significant agreement in Antalya, Turkey, in the countries'' first cabinet-level meeting since the start of the invasion on Feb. 24. The toll of Russia''s attack on a maternity hospital in Mariupol becomes clearer . Ukrainian officials say three people died, including one child , and at least 17 people were wounded in Wednesday''s attack. Russian authorities claim the hospital was used as a paramilitary base. Russia''s Embassy in the U.K. claimed in a tweet that a pregnant beauty blogger "played" an injured victim for photos with "realistic makeup." Mariupol, meanwhile, remains under siege. These satellite images show the devastation . The U.S. still believes a no-fly zone over Ukraine could result in a larger war. Secretary of State Antony Blinken said either a full or limited no-fly zone would "almost certainly" lead to a direct confrontation between Russia and the U.S. and NATO.

The finance-industry titans are joining the likes of McDonald’s and Coca-Cola in halting business operations in Russia as the death toll rises in Ukraine and millions of refugees flee. By Hannah Levitt and Sridhar NatarajanBloomberg Published On 10 Mar 202210 Mar 2022 JPMorgan Chase & Co. joined Goldman Sachs Group Inc. in pulling back from Russia …

As the war in Ukraine continues, companies as varied as Exxon, Visa, McDonalds and Coca-Cola have suspended sales in Russia. Tech companies like Adobe, Apple, and PayPal have joined in over the last couple of weeks. We queried the world’s top cloud infrastructure vendors including Amazon, Microsoft, Google, IBM and Cloudflare to find out how […]

As the war in Ukraine continues, companies as varied as Exxon, Visa, McDonalds and Coca-Cola have suspended sales in Russia. Tech companies like Adobe, Apple, and PayPal have joined in over the last couple of weeks. We queried the world’s top cloud infrastructure vendors including Amazon, Microsoft, Google, IBM and Cloudflare to find out how […]

Vladimir Putin prepares economic retaliation for western sanctions, including laws to impound $10bn of leased airline jets Russia-Ukraine war – latest updates Russia has drawn up plans to seize the assets of western companies leaving the country as the Kremlin pushes back against sweeping sanctions and the exodus of international business since its invasion of Ukraine. Announcing the move after a string of global firms said they would suspend operations in Russia this week, including McDonald’s, Coca-Cola and Pepsi , the country’s economic ministry said it could take temporary control of departing businesses where foreign ownership exceeds 25%. Continue reading…

McDonaldandapos;s Corp said it would temporarily close all 847 of its restaurants in Russia, increasing pressure on other global brands to pause operations in the country following Moscowandapos;s invasion of Ukraine. McDonald’s is one of the world’s biggest brands and experts say …

Volkswagen CEO Warns Ukrainian War Could Be Worse For Europe Than COVID No, this isn''t an April Fool''s joke. Volkswagen CEO Herbert Diess told the FT in an interview published Thursday that a prolonged war in Ukraine would be "very risky" for the European and German economies - and that it ultimately might be even worse for them than COVID. According to the FT, Diess said the economic damage from the war could be "very much worse" than the pandemic. "The interruption to global supply chains could lead to huge price increases, scarcity of energy and inflation," Herbert Diess, chief executive of the German carmaker, told the Financial Times. "It could be very risky for the European and German economies." The warning, from one of Europe''s most authoritative business leaders (since Volkswagen is still Europe''s biggest car maker by sales volume), is just the latest reminder that the ripples from the conflict are being felt far away from the battlefield. Just yesterday, McDonald''s and Coca-Cola caved to public pressure and decided to temporarily suspend operations in Russia.

Major food and drink titans have paused operations in Russia in response to the country’s invasion of Ukraine.

Swire Pacific returned to profitability last year following record profit at its beverage unit, aided by significantly lower losses and impairment charges at its aviation and marine businesses.The Hong Kong-based conglomerate reported an underlying profit of HK$5.3 billion (US$677 million), compared with a loss of HK$3.9 billion in 2020, according to a filing to the Hong Kong stock exchange on Thursday. Turnover rose 15 per cent to HK$92.4 billion.“Whilst the impact of Covid-19 continued to be…

Nestlé the world''s largest packaged food group, said on Wednesday it had suspended all capital investment in Russia following its invasion of Ukraine. The Switzerland-based company''s decision follows similar moves by other food majors, which are under pressure from consumers to take a stand against the conflict. Other Consumer Goods Companies React Procter & Gamble and Unilever noted this week they were ending new capital investment in Russia and no longer advertising in the country. Unilever has suspended all imports and exports of products into and out of the country. PepsiCo Inc, Coca-Cola Co and Starbucks Corp also stopped sales of their best-known products in Russia. Nestlé, which previously highlighted it had stopped all advertising in Russia, told Reuters it would continue supplying essential food products in Russia, taking a similar line to other food majors. Companies Withdraw McDonald’s noted that it would go on paying salaries to its 62,000…

The big American companies are the latest to suspend their operations in the wake of Russia''s invasion of Ukraine.