More Non-US Companies Restricted Services In Russia After US Counterparts

Author: Anusuya Lahiri | March 10, 2022 08:00am

Rio Tinto PLC (NYSE:RIO) became the first leading miner to suspend trading relations with Russian businesses, Reuters reports.
Japan's Sony Group (NYSE:SONY) and Nintendo Co Ltd (OTC:NTDOF) (NTDOY) also halted deliveries of their gaming consoles.
Credit Suisse Group AG (NYSE:CS) flagged a ~$900 million Russian credit exposure.
Hitachi Construction Machinery Co Ltd (OTC:HTCMF) (OTC:HTCMY) looks to stop exports and cease most operations in Russia, whose Western counterparts have already suspended operations.
Nestle SA (OTC:NSRGF) (NSRGY), Mondelez International Inc (NASDAQ:MDLZ), Procter & Gamble Co (NYSE:PG), and Unilever PLC (NYSE:UL) halted investment in Russia.
The suspension came just after the major U.S. tech companies ditched their operations in Russia post its Ukraine invasion.
In three weeks, the war has killed thousands of people, rendered more than two million refugees, wrecked the Russian Rouble, stock markets, and triggered the costs of oil and other commodities.
Comprehensive Western sanctions have isolated Russia, and the EU looks to phase out buying Russian energy.
Price Action: RIO shares traded lower by 5.88% at $73.15 in the premarket on the last check Thursday.