More companies halt operations in Russia

Western Union, Goldman Sachs, The Walt Disney Company, Sony Music and Warner Music are pulling out of Russia amid its ongoing invasion of Ukraine, now in its second week.

Goldman Sachs announced that it will be shutting down its operations in Russia. “Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” it said in a statement.

Western Union announced Thursday that it is suspending its operations in Russia and close ally Belarus amid the Russian invasion of neighboring Ukraine. The Denver-based money-transfer and payments company said in a statement that it “stands with the world in condemning the unprovoked and unjustified invasion of Ukraine.”

The Walt Disney Company, parent company of ABC News, announced it is also pulling operations from Russia, reports Variety. A spokesperson confirmed, “Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia. This includes content and product licensing, Disney Cruise Line activities, National Geographic magazine and tours, local content productions and linear channels. Some of those business activities we can and will pause immediately. Others — such as linear channels and some content and product licensing — will take time given contractual complexities.”

Also on Thursday, Warner Music suspended all operations in Russia, reports Variety. The company said in a statement, “Warner Music Group is suspending operations in Russia, including investments in and development of projects, promotional and marketing activities, and manufacturing of all physical products.”

Variety reports that Sony Music also withdrew from Russia, saying in a statement, “Sony Music Group calls for peace in Ukraine and an end to the violence. We have suspended operations in Russia and will continue our support of global humanitarian relief efforts to aid victims in need.”

Source-ABC