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Russian banks have lost 1.5 trillion rubles ($25 billion) in the first half of this year as a result of sanctions imposed by countries against the Russian Federation over its invasion of Ukraine. The Western sanctions were aimed at blocking the assets of Russian banks as well as banning
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The European Union is ready for the scenario in which Russia completely cuts off gas supplies because of their own storage capacity and energy savings. This was announced by EU Commissioner for Economy Paolo Gentiloni. According to Gentiloni, the European Union has about 80% of its gas reserves thanks to
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PepsiCo has stopped producing 7UP, Pepsi, and Mountain Dew in Russia almost seven months after the company announced it would suspend production, sales, promotional activities, and advertising after Russia invaded Ukraine in February. > "All concentrates have subsequently been exhausted in Russia and production has ended," a PepsiCo
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US President Joe Biden's administration plans to expand restrictions next month on shipments to China of semiconductors used in artificial intelligence and chip-making tools.
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Civil Aviation Authority of Moldova banned Air Moldova and other national carriers to resume flights to Moscow. Earlier, on September 9, Air Moldova announced the resumption of flights to Moscow on October 1. The company claims that this decision was a response to numerous appeals of Moldovan citizens staying in
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Sony Music, the world's second-largest recording company, has announced that it is exiting Russia completely after six months of ceasing operations in the country. The Russian unit and its employees will go under the management of a local company. It will only represent local artists and will be
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US guitar maker Gibson will auction off four limited edition electric guitars painted in the colours of the Ukrainian flag. The blue and yellow musical instruments were specially created to be sold to help Ukraine during the war, according to the brand's Instagram profile. > “Ukraine is in
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US oil corporation ExxonMobil has taken the first step towards filing a lawsuit against Russia after Russian President Vladimir Putin blocked it from exiting the Sakhalin-1 project, Bloomberg reports. The report notes that ExxonMobil Oil Corporation has been trying to withdraw from the Sakhalin-1 project since March this year, but
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Swedish-Swiss company ABB, which specializes in electrical engineering, power engineering and information technology, recently withdrew from the Russian market due to Russia's war against Ukraine. The company said in a press release that ABB decided to leave the Russian market due to Russia's large-scale war against
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Japanese bus and truck manufacturer Hino Motors has refused to build its plant in Khimki near Moscow. This decision is reportedly due to problems related to the payment of taxes and to delays in the construction schedule.
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French company Air Liquide, which supplies oxygen to Russian hospitals, announced on 2 September that it is leaving Russia. Its assets will be taken over by Russian management and the deal has to be approved by Russian authorities. Details of the agreement have not been disclosed yet. > “Air Liquide
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Swiss tax free operator Global Blue has withdrawn from its Russia business by transferring a stake to a partner. The deal includes an option to buy back the stake within a certain period of time, the company said in a report.