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Russia Quits World Tourism Organization
Russian Prime Minister Mikhail Mishustin has signed an order on the country's withdrawal from the WTO, Russian media reported.
Economy
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Russia's Sberbank Halts Processing Yuan Payments
From June 7, Sberbank suspended settlements in Chinese yuan for corporate clients. > "Currently, the bank is working with Chinese partners on solving the situation and renewal of the settlements," a company spokesperson said.
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Japanese Machine Tool Company DMG Mori Seiki Has Closed Its Business in Russia
The Japanese corporation DMG Mori Seiki has decided to shut down its business operations in Russia. It is the first major Japanese manufacturer to do so after Russia’s invasion of Ukraine. The company closed its assembly plant in Ulyanovsk and representative office in Moscow. In total, about 270 employees
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Starlink Ukraine Receives Operator’s License
Ministry of Digital Transformation of Ukraine announced that Starlink Ukraine has been granted operator status, which means that SpaceX's representative office will soon start operating in the country. > "The company has just been entered in the register of providers of electronic communication networks and services at
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Russian Economy to Shrink by 18% by 2023
Global banking experts believe Russia's economy will shrink 15% by the end of the year – and a further 3% in 2023 – due to Western sanctions, a mass exodus of companies and a collapse in exports. The figures could be even worse if Europe fully weans itself off Russian
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Canada Delivers Another Sanctions Hit on Russia
The country's government has imposed new sanctions on the Russian oil, gas and chemical industry, with the companies banned from providing construction, transportation, consulting and accounting services. This was reported on the website of the Canadian government.
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Huawei Has Begun Closing Its Official Outlets in Russia
The Chinese company Huawei has begun closing its official outlets in Russia. Currently, four of the 19 stores have stopped working, and more stores will be closed in the next few months, according to Russian media.
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Microsoft Cuts Its Operations in Russia
> “As a result of the changes to the economic outlook and the impact on our business in Russia, we have made the decision to significantly scale down our operations in Russia,” the company said in an emailed statement, reported by Bloomberg. The company noted that more than 400 employees
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European Parliament Recommends Granting Ukraine EU Membership Candidate Status
This was stated in a resolution on EU foreign and security policy and defence policy "following Russia's war of aggression against Ukraine," adopted by European MEPs at a plenary meeting in Strasbourg on Wednesday, 8 June. 438 parliamentarians voted in favor of the resolution, 65 voted
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New Zealand Has Imposed Sanctions Against Gazprom
New Zealand has imposed sanctions against Gazprom and more than 40 other companies in Russia and Belarus. > "Russia’s "largest company" (Gazprom – ed.) and dozens of military and industrial corporations that have been sanctioned have been "fuelling" the war in Ukraine," New Zealand
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IBM Announces a Complete Shutdown of Operations in Russia
IBM, one of the world’s largest hardware and software companies, has announced the cessation of its work in Russia. Arvind Krishna, the company’s CEO, said the company does not condone violence or acts of aggression and has therefore stopped selling technology to Russia and cooperating with the Russian
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Japan Imposes New Sanctions Against Russia
The list of restrictions includes Rosselkhozbank and Moscow Credit Bank. The sanctions were also imposed on the Belarusian Bank for Development and Reconstruction. Ministry of Foreign Affairs reported that Japan would impose a ban on exports to Russia of goods that contribute to the strengthening of industrial infrastructure.