Also LG joins the group of companies that impose sanctions against Russia: stop shipments within the country. The decision comes in protest of Moscow’s invasion of Ukraine.
LG blocks shipments to Russia
In a terse announcement on its corporate blog last Saturday, LG announces that it has frozen its relations with Moscow. “LG Electronics suspends all shipments to Russia and continue to keep a close look at the evolution of the situation. We are extremely concerned about the health and safety of all people, and LG remains committed to supporting humanitarian support efforts ”.
The suspension of activities in Russia does not have an expiration date or a list of excluded products. So from the announcement it seems that the stop involve all activities del brand in Russia.
The decision comes almost a month after the start of the Ukrainian invasion but LG appears to be categorical in its stop to shipments. Which have an important impact on the turnover of the Korean company.
Many other tech companiesThey have decided to stop shipments to Russia. Apple, Samsung and Microsoft, to name just a few. But there are also companies from all backgrounds, such as the closure of fast food chains and the world of fashion.
The impact on the Russian economy is difficult to estimate. But Moscow has doubled the number of sanctions commissioned, becoming by far the nation with the most economic sanctions in the world. We will keep you updated on the progress of the affair.