Mar 5, 2022

Zara, Paypal and Samsung suspend business in Russia over Ukraine invasion

Samsung - Russia's top supplier of smartphones - is suspending shipments over "Geopolitical developments". Adam Cochrane, an analyst at Deutsche Bank Research, told Reuters that logistical difficulties and the weakness in the rouble - resulting in large price increases for the Russian consumer - would make "Operations difficult for all retailers importing into Russia". Young Russians are having their choices and access to them severely restricted, as huge global businesses continue to turn their backs on Russia. Samsung sells the most popular smartphones in Russia, but when current stocks sell out, there'll be little options to get an upgrade because Samsung is stopping its shipments. International sanctions have also been directed at Russia's airline industry, making it difficult for Aeroflot and other Russian airlines to operate normally.

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