As a result of the sanctions, Netflix, the world’s largest streaming entertainment service, American Express, and leading accounting firms KPMG and PricewaterhouseCoopers cut ties with Russia on Sunday, citing Russia’s invasion of Ukraine.
Following the closures or suspension of operations of a number of large Western corporations, including Nike, Ikea, and French luxury behemoths LVMH, Chanel, and Hermes, the announcements were made on Sunday.
The statement comes after Mastercard and Visa made similar announcements on Saturday.
“We have chosen to suspend our service in view of the current circumstances in Russia,” a Netflix representative said.
In reaction to Russia’s ongoing and “unjustified attack on the people of Ukraine,” American Express has halted all operations in the nation, according to a statement on its website.
Both KPMG and PricewaterhouseCoopers stated on Sunday that their Russia-based operations would be shuttered.
“We think we, along with other global firms, have a responsibility to respond to the”
“Russian government’s continued military assault on Ukraine,”
So, KPMG says in a release.
KPMG’s Russia and Belarus unit has announced its exit from the KPMG network, affecting almost 4,500 partners and employees in Russia and Belarus.
PwC has also committed to remove PwC Russia from its network when sanctions take effect. According to multiple sources, the corporation has been operating in Russia for more than three decades and employs 3,700 people there.
Despite pressure from Ukrainian officials and legislators elsewhere, bitcoin companies have refused efforts to impose blanket restrictions on all Russians’ access to their services.
Ukraine has requested that all Russian cryptocurrency accounts be blocked on Binance, Bybit, Coinbase, Huobi, KuCoin, Gate.io, Whitebit, and Ukraine-based Kuna.
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