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Dubai-based global port operator DP World has temporarily ceased its operations in Ukraine after Russian troops continue to launch attacks in different parts of the country, according to a source from the company.
The company is also reviewing its business activity in Russia amid a series of economic sanctions imposed by the European Union and its allies, the source confirmed to Zawya on Wednesday.
Numerous multinational companies have stopped operations in Ukraine and moved their staff to safety following Russia’s invasion that started on February 24. Major businesses are also pulling out of Russia in the wake of the economic sanctions that are aimed at crippling the state’s economy.
DP World declined to comment on how the sanctions will affect its portfolio in Russia, as well as Ukraine.
However, the source said that “an ongoing review” of the company’s operations in the country is “underway and will continue during this time”.
As of Tuesday, Exxon Mobil, Boeing and Apple were among the latest to announce decision to remove or limit Russian presence.
Exxon Mobil and Boeing said they will stop their operations in the country, while Apple said it is suspending all product sales and limiting the functionality of some of its services in Russia.
Shipping companies FedEx and UPS have also ceased shipments to Russia.
(Reporting by Cleofe Maceda; editing by Seban Scaria )
