Home / WORLD / H&M, Oracle and videogame maker EA have added corporate condemnation to Russia

H&M, Oracle and videogame maker EA have added corporate condemnation to Russia

H&M, Oracle and videogame maker EA have added corporate condemnation to Russia

Netflix, fashion outlet H&M, tech company Oracle and many others cut or paused business in Russia on Wednesday(March 02, 2022) because of the attack on Ukraine, while the United States laid out new sanctions and a Ukrainian official outlined to Reuters plans for fanning corporate support.

Netflix has paused new projects in Russia, Variety reported, while H&M has paused all sales there and Oracle said it had suspended all operations.

Oracle’s announcement on Twitter came about three hours after Ukraine’s minister of digital transformation tweeted to the company for support. Deputy Minister Alexander Bornyakov told Reuters that Ukraine has sought help from 50 different companies, part of a strategy to isolate Russia and get citizens to turn against their government. “More sanctions imposed, faster peace restored,” Borynakov said. read more

The United States on Wednesday expanded such sanctions, imposing export controls on Belarus, a base for some of the Russian attacks on Ukraine.

The new sanctions also ban the export of specific refining technologies, making it more expensive for Russia to modernize refineries.

“The United States will take actions to hold Belarus accountable for enabling (Russian President Vladimir) Putin’s invasion of Ukraine, weaken the Russian defense sector and its military power for years to come, target Russia’s most important sources of wealth, and ban Russian airlines from U.S. airspace,” the White House said. read more

The European Union also expanded its own ban to 70% of Belarus exports to the bloc. read more

In recent days, global brands including Shell, Apple and Boeing have cut ties or stopped sales in Russia, often with unstinting condemnation of Russia’s invasion of Ukraine. Read more.

|Source: Online/KSU

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