Russia's invasion of Ukraine, which began Feb. 24, has already had devastating impacts in Ukraine, with millions of refugees fleeing the country and an uncertain death toll as fighting continues. Countries across the world have responded by imposing sanctions on Russia, which take aim at everything from the economy and finance sectors to shipping and technology.
As the conflict continues to gain widespread attention, brands and retailers have come under pressure to take action as well, and many are stopping shipments to Russia or taking other actions in protest of the invasion. In the first days of March, H&M paused all of its sales in Russia, Ikea halted operations in both Russia and Belarus and Apple suspended product sales in Russia.
Other retailers have taken a different approach: Etsy, for example, canceled any balances Ukraine sellers owed to the marketplace. Many retailers have also announced donations to humanitarian aid organizations to help with relief efforts, some are matching their employees' donations and Amazon is supporting employees in Ukraine and adjacent countries through expediting immigration visas and providing more time off.
As with any fast-moving crisis, reactions from the business world are changing on a daily basis. Some retailers that originally announced their intentions of continuing to operate in Russia have since pulled out, while others are escalating their response. Amazon is not only refusing to ship retail products to Russia but is also putting restrictions on other avenues of revenue like its lucrative Amazon Web Services unit and Prime Video.
Below is a list of some of the things major companies are doing in response to the crisis. As we continue to cover the implications it has on the industry, we will update our stories below.
How companies are responding to Russia's war on Ukraine
via https://www.aiupnow.com
Retail Dive Staff, Khareem Sudlow
