New Delhi: Several restrictions and sanctions imposed by Western nations – forced many organizations and companies in Russia to shut their business and work in the country. Thousands of Russians have lost their jobs after the invasion of Ukraine.
According to a media report, Russia has facing global condemnation for attacking Ukraine. There are more than 300 companies that have left Russia in the past two weeks.
Fast-food giants like McDonald’s, Pizza Hut, and beverages maker Coca-Cola have already announced a suspension of their operations in Russia, joining the international corporate chorus of outrage over Moscow’s invasion of Ukraine.
Meanwhile, the US has imposed an immediate ban on imports of Russian energy. Prices have surged more than 30 percent since Russia invaded its neighbor on February 24. Russia – the world’s second-largest exporter of crude has warned the cost will skyrocket further if the West implements bans.
Britain said that the UK aimed to phase out imports of Russian oil by the end of 2022, and the European Union (EU) plans to cut dependency on Russian gas this year by two-thirds.
The price of petrol and Diesel may rise in all the countries as many countries have imposed a ban on Russia and planning to reduce crude oil purchasing from Russia.
(Vinayak)