U.S. corporations have stopped doing business in Russia due to war with Ukraine

U.S.-based companies with Russian operations are stopping local services as a retaliation for President Vladimir Putin's invasion Ukraine.

U.S. corporations have stopped doing business in Russia due to war with Ukraine

FedEx and UPS are the two largest shipping companies worldwide. They have stopped sending packages to Russia immediately. They also announced that they will no longer send packages to Ukraine from inbound or outbound, citing the need to protect their workers.

FedEx stated over the weekend in a statement that it is "closely monitoring" the situation and has "contingency planning in place, including temporarily suspending outbound and inbound services to Ukraine and Russia until further notice."

CBS MoneyWatch was informed by a FedEx spokesperson that they continue to provide Russian export and domestic service, as long as the conditions permit.

UPS announced that service disruptions were also being caused by Russia's invasion Ukraine. UPS suspended all shipping services within Ukraine on Thursday. UPS announced the following day that it would no longer deliver international packages to Russia with destination addresses. Also UPS stated that it would return any undeliverable packages to the senders as soon as possible.

"Our main concern is safety, providing continuous service and minimising disruption to our customers. UPS will continue to monitor the situation closely and will re-establish services as soon as possible, according to a statement posted on its website.

Aeroflot and Delta end their alliance

The Russia-Ukraine crisis is also being addressed by the aviation industry. Delta Air Lines, the U.S.'s largest carrier, announced Friday that it would suspend its codeshare services with Russia's Aeroflot. This means the two airlines will not be able to co-operate.

The arrangement previously allowed Delta to sell tickets on Aeroflot-operated flights from Russia to their customers and to market them as their own. Similar to the arrangement, Aeroflot was able to sell tickets on Delta flights. Delta does not fly to Russia or Ukraine on its own.

Aeroflot has been removed from services operated by Aeroflot beyond Moscow's Sheremetyevo Airport. We also removed Aeroflot from Delta-operated flights from Los Angeles and New York [airport]. Delta stated in a statement that it will make accommodations for customers who are affected by these changes.

CBS MoneyWatch reached Aeroflot for comment but they did not respond immediately.

According to a statement posted on its website, Manchester United, a British soccer club, has announced that it had ended its sponsorship agreement with Aeroflot in protest at Russia's attack against Ukraine.

Premier League team released a statement saying that Aeroflot had been forced to renounce its sponsorship rights in light of the events in Ukraine. "We understand the concerns expressed by our fans all over the globe and offer our sympathy to those who are affected."

In protest at Ukraine's attack, Shell and BP also abandoned Russia ventures. This has put pressure on their competitors to sell off their stakes in Russian companies.


 

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