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Nike Is Leaving the Russian Market
The company decided not to renew the franchise agreement with Inventive Retail Group, which manages 37 retail stores under the Nike brand in the Russian Federation, The Guardian reports.
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Russian Juices Will Be Sold in White Packaging Because of Paint Shortages
Tetra Pak plants are low on paint, so Russian juice, wine and fruit drinks will be produced in white packaging because of paint shortages. A few dozens of international companies have already left Russia because they don't want to deal with an aggressor state.
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Swiss Engineering Concern Sulzer Is Leaving Russia
> “The Sulzer Board of Directors has decided to initiate the exit process from the Russian market,” the company’s press release says. Sulzer manufactures pumps, machinery, turbines, heat exchangers and other equipment for the oil, petrochemical, pulp and paper industries, and is engaged in their servicing.
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Official Apple Retailers in Russia Began to Close Unprofitable Stores
According to Russian media, Apple’s authorized dealer in Russia, re:Store, began to temporarily close its unprofitable stores due to restocking issues. These stores are being closed to redistribute Apple equipment, which has become scarce due to sanctions, between other outlets.
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400 Million People Around the World Are on the Verge of Hunger
Blocking Ukrainian ports, taking away grain from Ukrainian farmers, precisely destroying farms and oil depots, Russia wants 400 million people to starve, emigrate to Europe, so that it would allocate crazy funds to stabilize the situation.
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Russia Lost More Than 20% Of Its Exports
Trade with the G7 countries accounts for 25% of the total foreign trade of the Russian Federation. They account for 22% of exports and 28% of imports. Last year, Russian exports amounted to $493 billion. Sanctions did not affect all volumes, but only part of the positions. Thus, we can
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Kazakhstan Has Frozen $21.5M in Russian Bank Branches
9.2 billion tenge ($21.6m) has been frozen in the correspondent accounts of three subsidiaries of Russian banks in Kazakhstan because of sanctions. These are the branches of "Sberbank", "Alfa Bank," and "VTB".
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Starbucks to Exit Russia After 15 Years
The coffee chain has decided to exit the Russian market completely. In Russia, the Starbucks chain has 130 coffeehouses, all of which are managed by Siren Coffee. The first Starbucks coffeehouse in the country was opened in 2007.
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Germany Is Ready to Support the Oil Embargo Against Russia Without Hungary
"If the Commission president says we're doing this as 26 without Hungary, then that is a path that I would always support," German economy minister Robert Habeck said.
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Aeroflot Will Soon Face a Shortage of Spare Parts for Its Boeing and Airbus Aircraft
The flagship Russian air carrier Aeroflot will soon face a shortage of spare parts for its Boeing and Airbus aircraft due to sanctions, Bloomberg says. The vast majority of Aeroflot's more than 350 aircraft are Airbus or Boeing models, and the company faces a shortage of parts, Bloomberg
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Levi’s Will Finally Leave the Russian Market
Levi Strauss & Co denim retail chain has decided to leave the Russian market. The company stopped the delivery of goods and is looking for buyers for its retail business. In March, Levi's head office said it was suspending commercial activities and any investment in Russia because of
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Google’s Russian Branch Will File for Bankruptcy
Google’s Russian subsidiary has published a notice according to which it plans to apply to the arbitration court for bankruptcy. In March, Google suspended the vast majority of its commercial operations in Russia.