brewer Carlsberg, japan tobacco and a Coca-Cola bottler was among the firms closing factories Ukraine Following Russia’s invasion on Thursday, while UPS and FedEx Corp suspended services in and out of the country.
Ukraine closed its airspace as Russian forces launched an early morning attack, leaving budget airline Wiz Air trying to evacuate its Ukrainian-based crew, their families and four planes stranded in Kiev. Lviv,
Several companies that have come into contact with Russia are waiting for more clarity on Western sanctions and assessing the impact of those already announced.
Washington on Thursday announced a wave of measures that hamper Russia’s ability to trade in major currencies, along with sanctions against banks and state-owned enterprises. It previously imposed sanctions on the company behind the Nord Stream 2 gas pipeline, while European Commission chief Ursula von der Leyen said Brussels would block Russian access to key technologies and markets.
Denmark’s Carlsberg, which has a 31% share of Ukraine’s beer market, suspended production at all three of its breweries in the country, while Coca-Cola HBC said it had initiated contingency plans including the closure of its bottling plant. was involved.
Japan Tobacco closed a cigarette plant in Kremenchuk, central Ukraine.
Global shipping giant Maersk halted port calls in Ukraine and closed its head office in Odessa on the Black Sea coast until the end of February, while Danish freight forwarder DSV said it had closed its operations in the country.
Europe’s aviation regulator expanded a security warning triggered by the attack, advising airlines to “use caution” when flying through parts of Russian airspace controlled by regional centers in Moscow and Rostov.
titanium and neon
Shares of German utility Unipar, which has significant interests in Russia and a $1 billion exposure to the recently suspended Nord Stream 2 project, fell on Thursday and was also knocked by its controlling shareholder, Finland’s Fortum.
Fortum said the two companies have 12 power plants in Russia and employ 7,000 people there, but since energy generation was not approved, their operations were not directly affected.
One of the financial backers of Nord Stream 2, wintershall deaThe said fact that the suspension of the project was on political grounds meant that its operator could seek compensation.
Shares of German chemical company BASF, which co-owns Wintershall with Russian billionaire Mikhail Friedman’s Lettervan investor group, and other Nord Stream 2 backers OMV and Engie were also affected.
Britain’s largest domestic bank, Lloyd’s, warned it was on alert for cyberattacks from Russia, while some companies said supplies of key raw materials could be affected.
Jet engine makers Rolls-Royce and Safran on Thursday said they were increasing supplies of titanium. The use of titanium, much of it supplied by Russia, has increased in recent years as planners try to make the jet lighter.
“We have been looking at this situation for several weeks and have decided to increase our stock of titanium since the beginning of the year, especially through distributors in Germany,” Safran chief executive Olivier Andries told reporters.
The French company is also trying to diversify its sources of the metal, as has Britain’s Rolls-Royce, which said 20% of its titanium came from Russia.
Large chip companies said they expect limited supply chain disruption from stockpiling and the struggle to diversify buyouts, but some industry sources said the impact could be longer.
Ukraine supplies more than 90% of US semiconductor-grade neon, which is critical for lasers used in chipmaking.
Ukraine closed its airspace as Russian forces launched an early morning attack, leaving budget airline Wiz Air trying to evacuate its Ukrainian-based crew, their families and four planes stranded in Kiev. Lviv,
Several companies that have come into contact with Russia are waiting for more clarity on Western sanctions and assessing the impact of those already announced.
Washington on Thursday announced a wave of measures that hamper Russia’s ability to trade in major currencies, along with sanctions against banks and state-owned enterprises. It previously imposed sanctions on the company behind the Nord Stream 2 gas pipeline, while European Commission chief Ursula von der Leyen said Brussels would block Russian access to key technologies and markets.
Denmark’s Carlsberg, which has a 31% share of Ukraine’s beer market, suspended production at all three of its breweries in the country, while Coca-Cola HBC said it had initiated contingency plans including the closure of its bottling plant. was involved.
Japan Tobacco closed a cigarette plant in Kremenchuk, central Ukraine.
Global shipping giant Maersk halted port calls in Ukraine and closed its head office in Odessa on the Black Sea coast until the end of February, while Danish freight forwarder DSV said it had closed its operations in the country.
Europe’s aviation regulator expanded a security warning triggered by the attack, advising airlines to “use caution” when flying through parts of Russian airspace controlled by regional centers in Moscow and Rostov.
titanium and neon
Shares of German utility Unipar, which has significant interests in Russia and a $1 billion exposure to the recently suspended Nord Stream 2 project, fell on Thursday and was also knocked by its controlling shareholder, Finland’s Fortum.
Fortum said the two companies have 12 power plants in Russia and employ 7,000 people there, but since energy generation was not approved, their operations were not directly affected.
One of the financial backers of Nord Stream 2, wintershall deaThe said fact that the suspension of the project was on political grounds meant that its operator could seek compensation.
Shares of German chemical company BASF, which co-owns Wintershall with Russian billionaire Mikhail Friedman’s Lettervan investor group, and other Nord Stream 2 backers OMV and Engie were also affected.
Britain’s largest domestic bank, Lloyd’s, warned it was on alert for cyberattacks from Russia, while some companies said supplies of key raw materials could be affected.
Jet engine makers Rolls-Royce and Safran on Thursday said they were increasing supplies of titanium. The use of titanium, much of it supplied by Russia, has increased in recent years as planners try to make the jet lighter.
“We have been looking at this situation for several weeks and have decided to increase our stock of titanium since the beginning of the year, especially through distributors in Germany,” Safran chief executive Olivier Andries told reporters.
The French company is also trying to diversify its sources of the metal, as has Britain’s Rolls-Royce, which said 20% of its titanium came from Russia.
Large chip companies said they expect limited supply chain disruption from stockpiling and the struggle to diversify buyouts, but some industry sources said the impact could be longer.
Ukraine supplies more than 90% of US semiconductor-grade neon, which is critical for lasers used in chipmaking.
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