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US tech giant joins mass exodus of Western firms from Russia

US chip-making giant Intel has suspended all business operations in Russia, citing Moscow’s military operation in Ukraine as the key reason for its decision. The California-based company said in a statement that it would support its 1,200 employees in Russia and “[implement] business continuity measures to minimize disruption to our …

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German consumer goods giant to continue business in Russia

German chemical and consumer goods giant Henkel will continue doing business in Russia, according to the company’s Chairperson Simone Bagel-Trah. “This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable sanctions,” she told shareholders on Monday during …

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German chemicals giant in trouble

German multinational chemicals giant BASF has warned of the drastic consequences if gas supply from Russia is interrupted, German newspaper Frankfurter Allgemeine reported on Wednesday. If gas supplies were to be cut in half, the Ludwigshafen plant – the largest chemical site in the world, which employs almost 40,000 people, …

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German energy giant explains impact of Russia sanctions

There’s high dependence on Russian gas, oil and coal supplies in Germany and the EU, so giving up on them will have “massive consequences,” the CEO of German multinational energy company RWE, Markus Krebber, has warned. “An immediate stop would have unforeseen consequences for the heat supply of households,” Krebber …

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Former Austrian chancellor quits Russian oil giant over Ukraine

Former Austrian chancellor Wolfgang Schuessel has become the latest Western figure to distance himself from Russia over the war in Ukraine. He announced on Friday that he had quit his post on the supervisory board of the energy giant Lukoil. “For me, someone who always advocated constructive ties between the …

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US tech giant faces Russian fines

American tech giant Google is set to be handed a fine after Russian officials determined it was in violation of the country’s anti-trust laws, in connection with its video sharing and social media website YouTube. The Federal Antimonopoly Service (FAS) posted the news on its website on Thursday, writing that …

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US bans telecom giant over spying concerns

US telecom regulator the Federal Communications Commission (FCC) announced on Thursday that it had voted unanimously to revoke authorization for China Unicom’s American unit to operate in the United States. The firm must now stop providing telecommunications services in the country within 60 days, the FCC said. “Today we take …

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