Worldwide
In June, another thirteen international companies, including one of the world's largest tire manufacturers, Michelin Group, German company Bosch, and American chemical corporation 3M, exited the Russian market, according to a new report by the Kyiv School of Economics. The report reveals that a total of 254 international
Worldwide
The UK Foreign Secretary has announced plans to introduce a new sanctions regime targeting Iran, which would include restrictions on hostile activities, including military support to aggression. The statement [https://www.gov.uk/government/news/uk-steps-up-action-to-tackle-rising-threat-posed-by-iran] issued by the British Foreign Secretary highlights Iran's intensified campaign of targeting
Worldwide
EU leaders have decided to extend economic sanctions against Russia for another six months in response to Russia's aggressive war against Ukraine, as European Pravda writes. The previous round of economic sanctions against Russia was set to expire on July 31, 2023. This package includes the initial sanctions
Worldwide
Sales of flagship smartphones from Apple and Samsung have dropped to 25% in unit terms and 50% in revenue, according to Vedomosti. The current situation with the sales of high-end smartphones in Russia is comparable to the state of the market in 2013. Similar sales data for Apple and Samsung
Worldwide
Ukraine, along with several other states aspiring to become members of the European Union, has informed the EU Council of its intention to join the sanction regime related to the destabilization of Moldova [https://www.consilium.europa.eu/en/press/press-releases/2023/06/29/statement-by-the-high-representative-on-behalf-of-the-eu-on-the-alignment-of-certain-countries-concerning-restrictive-measures-in-view-of-actions-destabilising-the-republic-of-moldova/] . The announcement was made by
Worldwide
Beer giant Carlsberg Group has signed an agreement for the sale of its Russian business, the company announced in a statement [https://www.carlsberggroup.com/newsroom/carlsberg-sells-its-russian-business-subject-to-regulatory-approvals/] . The company does not disclose the buyer or the price of the deal yet. At the same time, the company added that the
Worldwide
General Electric (GE) will not be able to continue servicing gas turbines at TPPs with a total capacity of 5 GW in Russia because of sanctions, Kommersant reports. Extended U.S. sanctions came into force on June 18, banning U.S. companies from providing engineering services in Russia. A service
Worldwide
The Russian plant of Bosch was taken over by the state entity NAMI, which has acquired a 100% stake in a factory producing antilock brakes and other systems for cars, which previously belonged to German technology group Robert Bosch. NAMI is actively buying up assets of global automakers that left
Worldwide
Mondelez, which produces such sweets as Milka and Oreo, has announced that it will have the Russian business stand-alone by the end of the year, the company announced in a statement [https://www.mondelezinternational.com/News/Statement-on-our-Operations-in-Russia] . Mondelez emphasized that it has been condemning Russia's brutal aggression against
Worldwide
Scandinavian countries are boycotting the products of Mondelez International, the manufacturer of snacks and chocolate, because of its presence in Russia. SAS and Norwegian Air, railway group SJ, hotel chain Strawberry, retail chain Elkjop, shipping group Fjord Line and the Norwegian Football Association have recently announced that they would stop
Worldwide
The European Central Bank continues to put pressure on banks in the eurozone, urging them to curtail business in Russia as soon as possible. More than a year after Russia began invading Ukraine, several European banks, including Austria's Raiffeisen Bank International and Italy's UniCredit, are still
Worldwide
Scandinavian Airlines (SAS) has suspended the sale of all products of food giant Mondelez due to the fact that the company is on the Ukrainian list of "sponsors of war," Borsen reports. Mondelez owns such brands as Freia, Toblerone, and Daim. It has three plants in Russia, and