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    Wednesday, April 20, 2022

    Toshiba Stop Accepting Orders from Russian Partners

    Japanese electronics manufacturer Toshiba announced on its website on Wednesday it was suspending all investment in Russia and will no longer accept orders from Russian partners.

    The company cited the Russian special military operation in Ukraine as a reason behind the move.

    By now, more than a third of Japanese companies officially registered in Russia left the country or suspended business operations there over the situation in Ukraine. Among them are carnakers Toyota Motor and Nissan Motor, and tire manufacturer Bridgestone. Also, Fast Retailing Co. announced it was closing its clothes chain, Uniqlo.

    On February 24, Russian President Vladimir Putin announced a special military operation in response to a request for help by the heads of the Donbass republics. He stressed that Moscow had no plans of occupying Ukrainian territories, but aimed to demilitarize and denazify the country. Afterward, the US, EU, UK and some other countries imposed sanctions on Russian individuals and legal entities.

    Several other companies have also suspended business in Russia over the Ukraine crisis. Most recently, India's Infosys moved its business out of Russia and said that it would look for alternate options. Global companies such as Ericsson and Nokia have also stopped supply and sales in Russia. Laptop/PC maker Acer also suspended business in Russia, and so did chipmaker Intel.

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