Worldwide
The Latvian government has suspended a number of intergovernmental agreements with Russia as of August 1, in particular, on economic cooperation. This is indicated in a statement by the country's Foreign Ministry in Latvijas Vēstnesis. Moreover, the Latvian-Russian intergovernmental agreement on the establishment of a commission for economic,
Worldwide
Sales of new cars in Russia dropped by 75% in July compared with the same month last year, the Association of European Businesses (AEB) has reported. In July, sales of new cars and new commercial vehicles in Russia fell by 75% compared to July last year – up to 32,412
Worldwide
Finnish energy company Tampereen Sähkölaitos announced that it had stopped purchasing fuel from the Russian-owned petroleum firm Teboil. Teboil is owned by the Russian company Lukoil.
Worldwide
In the first half of 2022, production of elevators in Russia decreased by 41% compared to the same period in 2021. One of the reasons for this is the suspension of businesses or withdrawal of foreign manufacturers from Russia. Another reason is the reduction in the volume of construction in
Worldwide
Energy company Siemens Energy has started restructuring its business activities in Russia and intends to finish exiting its assets in Russia by the end of September. At the same time, Siemens Energy may continue to service equipment for the Nord Stream-1 pipeline.
Worldwide
Pet food manufacturer Purina (part of Nestle) has stopped the production and supply of pet food Gourmet, Darling Dog, Cat Chow, Dog Chow, and Friskies in Russia. The company explained that it had to stop production due to logistical difficulties with the supply of raw materials. However, the Purina One,
Worldwide
The German company Tchibo GmbH, which is the fourth coffee producer in the world, has exited the Russian business. The company, which has moved to the local top management, may continue supplying Tchibo and Davidoff brands of coffee until the end of the year, but then it should start supplying
Worldwide
Largest container shipping line and vessel operator Maersk, which announced its decision to leave Russia, is negotiating the sale of its Russian business and expects the negotiations to end relatively soon. Maersk has decided to wind down its operations in Russia entirely and sell its assets there after limiting its
Worldwide
The world’s largest investment company, BlackRock, has begun the process of liquidation of a major exchange-traded fund of Russian securities Russia ETF, Bloomberg reports with reference to the company’s statement. The process of liquidation will begin on August 17. The liquidation may take an extended period of time,
Worldwide
The TOEFL English language exam, which is organized by ETS, is no longer available to Russian citizens, Mediazona has learned. When registering for the exam, Russian citizens see a message that reads: «In order to comply with the Office of Foreign Assets Control (OFAC) requirements, your access to TOEFL products
Worldwide
European airline Lufthansa will not use the airspace of Russia until March 25, 2023, because of the war in Ukraine, the airline reported. The airline's press service added that all the company's flights from and to Russia have been canceled for this period due to the
Worldwide
The Latvian embassy in Russia has indefinitely stopped accepting visa applications for Russian citizens with the only exception – visa applications will still be accepted in cases related to funerals of close relatives.