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18/12/2024
Wednesday
THIS DAY IN HISTORY:
18 December 
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
18 December
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
Over 100 global brands leave Russian market
The special operation launched by Russia in Ukraine has led to a mass exodus of foreign companies from the country. The sanctions imposed by the United States, the European Union and other countries against individuals and organizations contributed to the suspension of activities in various sectors of the national economy: retail, manufacturing, banking.
Representatives of the textile industry are already recommending that citizens purchase clothes at least a year in advance. What the digital technology market participants should do is not yet clear, given the suspension of all types of activities in Russia by Oracle and SAP, the two largest software producers. Even now, experts are expressing the opinion that the transition to new software, although possible, will require significant costs (given the market volumes occupied by these brands) and compatibility issues.
But if the absence of such giants will be felt first of all by state structures and large companies working with databases and computer networks, then the withdrawal of manufacturers of technological equipment from the market may be felt by ordinary citizens in the very near future. Apple previously announced the suspension of its ‘services’ (like Apple Pay) and the supply of equipment to Russia. Although the stores still continue to sell those gadgets and laptops that have already been delivered, the company does not plan to officially supply new products in the near future.
Foreign brands working in the oil and gas sector are rapidly breaking off relations with their Russian counterparts. This was stated by BP, Shell and Equinor. ExxonMobil has announced its withdrawal from the Sakhalin-1 project. TotalEnergies has refused further investments in projects in the Russian Federation.
Almost all major brands from Europe and the USA have left the automotive and motorcycle market. Exports to Russia are stopped by Audi, Volvo, Land Rover, Jaguar, Bentley, Rolls-Royce, BMW, Mercedes, Skoda, Porsche, Renault, Scania, Volkswagen, General Motors, Chevrolet, Cadillac, Ford and Harley Davidson. Companies from Asia against this background behave not so unambiguously. Honda, Toyota and Mazda have said they will temporarily stop supplying vehicles and components, while Mitsubishi is only thinking such a possibility over.
In the near future, Russia risks being left without international transport deliveries from DHL UPS and FedEx, IKEA goods and furniture (while the company decided to suspend operations for three months), Nike and H&M clothing brands. Experts are discussing the possible exit from the market of well-known fashion retailers like Inditex group and LPP, the plans of which are still unclear for the moment. Such companies as Lenovo, Xiaomi may leave the IT market as well. This is the kind of decision Western countries are apparently waiting for from them.
Representatives of the textile industry are already recommending that citizens purchase clothes at least a year in advance. What the digital technology market participants should do is not yet clear, given the suspension of all types of activities in Russia by Oracle and SAP, the two largest software producers. Even now, experts are expressing the opinion that the transition to new software, although possible, will require significant costs (given the market volumes occupied by these brands) and compatibility issues.
But if the absence of such giants will be felt first of all by state structures and large companies working with databases and computer networks, then the withdrawal of manufacturers of technological equipment from the market may be felt by ordinary citizens in the very near future. Apple previously announced the suspension of its ‘services’ (like Apple Pay) and the supply of equipment to Russia. Although the stores still continue to sell those gadgets and laptops that have already been delivered, the company does not plan to officially supply new products in the near future.
Such brands as Nokia, Ericsson, HP and Dell also announced the termination of equipment deliveries.
Digital device manufacturers will also have to survive without AMD and Intel processors. The suspension of supplies to TSMC (a semiconductor manufacturer) is announced as well.Foreign brands working in the oil and gas sector are rapidly breaking off relations with their Russian counterparts. This was stated by BP, Shell and Equinor. ExxonMobil has announced its withdrawal from the Sakhalin-1 project. TotalEnergies has refused further investments in projects in the Russian Federation.
Almost all major brands from Europe and the USA have left the automotive and motorcycle market. Exports to Russia are stopped by Audi, Volvo, Land Rover, Jaguar, Bentley, Rolls-Royce, BMW, Mercedes, Skoda, Porsche, Renault, Scania, Volkswagen, General Motors, Chevrolet, Cadillac, Ford and Harley Davidson. Companies from Asia against this background behave not so unambiguously. Honda, Toyota and Mazda have said they will temporarily stop supplying vehicles and components, while Mitsubishi is only thinking such a possibility over.
In the near future, Russia risks being left without international transport deliveries from DHL UPS and FedEx, IKEA goods and furniture (while the company decided to suspend operations for three months), Nike and H&M clothing brands. Experts are discussing the possible exit from the market of well-known fashion retailers like Inditex group and LPP, the plans of which are still unclear for the moment. Such companies as Lenovo, Xiaomi may leave the IT market as well. This is the kind of decision Western countries are apparently waiting for from them.
It is already known that McDonald's and Burger King fast food restaurants are planning to stay in Russia.
Nestle and Danone have no plans to leave the market. However, a number of Russian companies are already experiencing problems with logistics and the supply of equipment parts. In particular, the AvtoVAZ plant announced the suspension of production from March 5. A manufacturer from Tolyatti found himself in a situation of shortage of semiconductors received from Germany. 04.03.2022
