Boeing and Ford latest corporate giants to suspend operations in Russia

Major corporations like ExxonMobil and Disney have also cut ties

Aviation giant Boeing and automaker Ford are the latest major US corporations to suspend their operations in Russia in response to the invasion of Ukraine.

Both companies, which have large operations in Russia, announced the moves on Tuesday.

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Boeing, which employs several thousand people in the region, said it halted major operations in its Moscow office and would cease providing parts and support services to Russian airlines.

The move is the latest devastating blow to Russia’s airline fleet, after Joe Biden joined similar efforts from Europe and announced the closure of US airspace to Russian flights.

“We will join our allies in closing off American airspace to all Russian flights, further isolating Russia and adding additional squeeze on their economy,” President Biden said during his State of the Union address on Tuesday night. “He has no idea what’s coming.”

The company also has a design centre in Moscow and a joint venture with Russian firm VSMPO-AVISMA, its largest titanium supplier.

Ford, meanwhile, manufactures commercial vans in Russia and sells vehicles via a joint venture with Soller PJSC.

“Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability,” the company said in a statement. “The situation has compelled us to reassess our operations in Russia.”

The corporations are the latest major businesses to back away from Russian operations, following companies like Disney and ExxonMobil.

“Exxon Mobil supports the people of Ukraine as they seek to defend their freedom and determine their own future,” Exxon said in a statement on Tuesday, announcing its withdrawal from a joint oil venture in Russia and suspension of future investments.

Media companies like Sony, Warner Brothers and Disney have also pulled the release of upcoming films in Russia.

“In light of the humanitarian crisis in Ukraine, WarnerMedia is pausing the release of its feature film The Batman in Russia,” a spokesperson for Warner Bros said in a statement. “We will continue to monitor the situation as it evolves. We hope for a swift and peaceful resolution to this tragedy.”

Major TV distributors have also dropped Russian state-owned media entities like RT and Sputnik from their programming.