Image: PIXABAY/ AP
The ongoing Russia Ukraine war has made companies take action to limit business activities in Russia. Several MNCs, including iPhone producers Apple had earlier announced the move to punish President Vladimir Putin’s invasion of Ukraine, by stopping the sale of their products in the country. However, Russia has now hit back at the American giant technology company by proposing a restriction on the export of artificial sapphires used in the manufacture of iPhones.
In a retaliation move to the MNC’s quitting from the Russian market, the Russian Ministry of Industry and Trade has proposed restricting the export of artificial sapphires from the country. The sapphires are majorly used in the manufacture of iPhones worldwide. It is noteworthy that Russia accounts for about 40% of the world’s supply of artificial sapphires, according to news agency NEXTA.
Earlier this week, Apple announced that it would not sell its iPhone and other electronic devices inside Russia. The blocking of Apple’s sale in Russia came days after Ukraine’s vice prime minister wrote a letter to Apple CEO Tim Cook asking him to pull Apple’s services out of the country invading Ukraine. Vice PM Mykhailo Fedorov, who is also the country’s digital minister, published a letter to Cook on Twitter where he said that Apple must help “protect Ukraine” and appealed to “stop supplying Apple services and products to the Russian Federation, including blocking access to the App Store.”
In a recent move to punish Putin’s invasion of Ukraine, Epic Games, which is one of the world’s most popular gaming platforms informed that they are suspending all commercial relations with Russia. Following Western sanctions against Russia, Epic Games informed that it will not be in business with Russia, however, added that it will continue to provide the Russians access to its games. Epic Games, which is an American video game company famous for games like Fortnite and Infinity Blade series is set to stop commerce with Russia.
Earlier this week, several companies including Spotify and Netflix pulled out of the Russian market. Netflix informed that it has paused all projects and acquisitions in Russia while Spotify shut its office in Russia indefinitely. Big tech giants, including Google, Microsoft, Oracle, Dell, Tietoevry, have either limited access to Russian media to their platforms or pared back product sales. Some of the sportswear and fashion companies that have suspended operations in Russia include Adidas, Nike Puma and H&M.