Consumer goods giant Unilever to suspend its Russian imports, exports
Reuters
Published Mar 08, 2022 18:04
Updated Mar 08, 2022 19:28
(Reuters) -Unilever on Tuesday became the first major European food company to stop imports and exports out of Russia after the country's invasion of Ukraine.
Earlier in the day, Shell (LON:RDSa) said it would stop buying Russian oil, even as Britain said it would ban imports of the commodity by gradually phasing them out during 2022.
Other major British consumer firms, including online fashion retailers ASOS (LON:ASOS) and Boohoo as well as food & clothing retailer Marks & Spencer, have also shunned Russia or reduced exposure to the country.
The maker of Dove soap and Knorr soup said it would not invest any further in Russia and would also stop all media and advertising spend there, adding that its Ukrainian operations have also stopped.
Unilever (LON:ULVR) also said it would continue to supply its everyday essential food and hygiene products made in Russia to people in the country, but would not take any profit from its Russian presence.
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Written By: Reuters
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