WRAPUP 8-Apple stops product sales in Russia, adding to pressure from shippers, car makers

In This Article:

(Adds Ford, Nike developments)

* West imposes unprecedented sanctions after Ukraine invasion

* The world's biggest shipping lines take action

* Austria's Raiffeisen Bank looks in to leaving Russia -sources

By Jonathan Saul, Stine Jacobsen and Dawn Chmielewski

March 1 (Reuters) - American big brands including Apple, Google, Ford and Harley-Davidson on Tuesday stopped sales and distanced themselves from Russia because of the invasion of Ukraine, joining a growing list of companies from shippers to car makers to energy companies shunning the country.

Apple Inc said it had stopped sales of iPhones and other products in Russia, Alphabet Inc's Google dropped Russian state publishers from its news, Ford Motor told its Russian manufacturing partner it was suspending operations in the country, and Harley-Davidson Inc suspended its business and shipments of its bikes.

Early in the day, the world's biggest shipping lines, MSC and Maersk, suspended container shipping to and from Russia, deepening the country's isolation.

The West has imposed heavy restrictions on Russia to close off its economy from the global financial system, pushing companies to halt sales, cut ties and dump tens of billions of dollars' worth of investments.

"We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence," Apple said in a statement announcing a pause in sales in Russia and other measures including limiting Apple Pay and dropping the ability to download RT News outside of Russia.

The steady drum beat of companies taking a stance increased later in the day as rockets struck major cities in Ukraine.

"Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia," Ford said, adding to several days of announcements by global car companies.

Nike Inc has made merchandise purchases on its website and app unavailable in Russia as it cannot guarantee delivery of goods to customers in the country, an update on the sportswear maker's website showed on Tuesday.

The MSC and Maersk moves mean that Russia - the world's eleventh-largest economy and supplier of one-sixth of all commodities - is now effectively cut off from a large chunk of the globe's shipping capacity.

To stem the stampede, Moscow said on Tuesday it would temporarily curb foreign investors from selling Russian assets but energy firms BP Plc and Royal Dutch Shell Plc have already decided to abandon their Russian businesses, while leading banks, airlines, automakers and more have cut shipments and ended partnerships.