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out of Russia</h1></div><div data-component="byline-block" class="sc-18fde0d6-0 dlWCEZ"></div><figure><div data-component="image-block" class="sc-18fde0d6-0 ejjhCR"><div data-testid="hero-image" class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/A7AB/production/_118332924_goldman.jpg.webp" alt="Getty Images Goldman Sachs office London" class="sc-a34861b-0 efFcac"/><span class="sc-a34861b-2 fxQYxK">Getty Images</span></div></div><div data-component="caption-block" class="sc-18fde0d6-0 bdPeAJ"><figcaption class="sc-8353772e-0 cvNhQw">Richard Gnodde said the company remained committed to its London head office</figcaption></div></figure><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe"><b id="goldman-sachs-has-said-it-will-close-its-operations-in-russia,-becoming-the-first-wall-street-bank-to-pull-out-of-the-country-in-response-to-the-invasion-of-ukraine." class="sc-7dcfb11b-0 kVRnKf">Goldman Sachs has said it will close its operations in Russia, becoming the first Wall Street bank to pull out of the country in response to the invasion of Ukraine.</b></p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Money transfer giant Western Union has also said it will suspend operations in Russia and Belarus.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The firms join a rush of global brands halting operations in Russia.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Earlier on Thursday, the owner of Uniqlo made a U-turn and decided to suspend operations in the country.</p></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Sanctions bite</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Operating in Moscow has been increasingly difficult for Western financial institutions and other firms amid international sanctions against Russia.</p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_1" id="dotcom-mid_1" class="dotcom-ad"></div></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">More than 330 firms have withdrawn or significantly curtailed operations in the country in recent days, according to Yale researchers, who have been tracking the corporate response.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">On Thursday, Goldman Sachs said it would be "winding down" its business in Russia rather than leaving immediately.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The bank said it was doing so "in compliance with regulatory and licensing requirements".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">At the end of 2021, Goldman Sachs' total credit exposure in Russia was $650m (£496m). </p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Later Thursday, fellow Wall Street giant JP Morgan Chase also said it was "actively unwinding Russian business", with activities focused on taking care of staff and helping global clients manage risk and close out obligations. </p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_2" id="dotcom-mid_2" class="dotcom-ad"></div></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Meanwhile Western Union said it "stands with the world in condemning the unprovoked and unjustified invasion of Ukraine".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">"Ultimately, in light of the ongoing tragic impact of Russia's prolonged assault on Ukraine, we have arrived at the decision to suspend our operations in Russia and Belarus," the company said.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The action is a further blow to flows of money in Russia. Western Union provides international money transfer and payments services in more than 200 countries and 130 currencies.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">In an interview with the BBC published today, Ukrainain Central Bank Governor Kyrylo Shevchenko had called on Western Union to "cease deliveries of cash to Russian and Belarusian banks."</p></div><div data-component="unordered-list-block" class="sc-18fde0d6-0 jVHuOl"><ul class="sc-5c9c90b0-0 cnfHHs"><li class="sc-8d73edac-0 ezcCTE"><a target="_self" href="https://www.bbc.co.uk/news/world-europe-60125659" class="sc-c9299ecf-0 bZUiKB">What sanctions are being imposed on Russia?</a></li></ul></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_3" id="dotcom-mid_3" class="dotcom-ad"></div></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Change of direction</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Earlier on Thursday, Uniqlo owner Fast Retailing said it had decided to change its stance on continuing trading in Russia.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">It said it was faced with "operational challenges" due to the "worsening of the conflict situation" after Russia's invasion of Ukraine.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Earlier in the week it had said it would keep its Russian shops open, saying that clothing is a "necessity of life".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">But in its latest statement, it said Uniqlo could "no longer proceed" in Russia.</p></div><figure><div data-component="image-block" class="sc-18fde0d6-0 gfTVSf"><div data-testid="image" class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/168E4/production/_123588329_newpicture.jpg.webp" alt="Reuters Uniqlo shop" class="sc-a34861b-0 efFcac"/><span class="sc-a34861b-2 fxQYxK">Reuters</span></div></div></figure><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_4" id="dotcom-mid_4" class="dotcom-ad"></div></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">"Uniqlo has made everyday clothing available to the general public in Russia," it said.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">"However, we have recently faced a number of difficulties, including operational challenges and the worsening of the conflict situation. For this reason, we will temporarily suspend our operations."</p></div><div data-component="unordered-list-block" class="sc-18fde0d6-0 jVHuOl"><ul class="sc-5c9c90b0-0 cnfHHs"><li class="sc-8d73edac-0 ezcCTE"><a target="_self" href="https://www.bbc.co.uk/news/business-60550610" class="sc-c9299ecf-0 bZUiKB">Why the world is waging economic war on Russia</a></li><li class="sc-8d73edac-0 ezcCTE"><a target="_self" href="https://www.bbc.co.uk/news/business-60610537" class="sc-c9299ecf-0 bZUiKB">Ukraine war is economic catastrophe, warns World Bank</a></li></ul></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Corporate pull-back</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Among the latest wave of companies to call a halt to trading or pull back from investing in Russia, Rio Tinto became the first major mining company to cut ties with Russian businesses, while Japan's Sony and Nintendo suspended deliveries of gaming consoles.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The world's biggest insurance broker, New York-listed Marsh McLennan, also announced it would exit Russia on Thursday. Ownership of its Russian businesses will be transferred to local management that will be independently operated, the group said. </p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_5" id="dotcom-mid_5" class="dotcom-ad"></div></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Japanese firm Hitachi said it would <a target="_blank" href="https://www.hitachicm.com/global/important-notice_en/22-03-04e/" class="sc-c9299ecf-0 bZUiKB">stop exports and cease most operations</a> in Russia except for vital electrical power facilities, following similar moves by US companies such as Caterpillar.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">"We took multiple factors including the supply chain situation into account," a Hitachi spokesperson said.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Ukraine's Vice Prime Minister Mykhailo Fedorov <a target="_blank" href="https://twitter.com/FedorovMykhailo/status/1501152664834514951?ref_src=twsrc%5Etfw" class="sc-c9299ecf-0 bZUiKB">had been urging the suspension</a><b id="." class="sc-7dcfb11b-0 kVRnKf">.</b></p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Entertainment giant Sony, which had already stopped releasing films in Russia, suspended the launch of racing game "Gran Turismo 7".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Food companies Nestle, Mondelez, Procter & Gamble and Unilever have halted investment in Russia, but said they would continue providing essentials.</p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_6" id="dotcom-mid_6" class="dotcom-ad"></div></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Fast food slowdown</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe"><a target="_blank" href="https://corporate.mcdonalds.com/corpmcd/en-us/our-stories/article/press-releases.Russia-update.html" class="sc-c9299ecf-0 bZUiKB">McDonald's said on Tuesday</a> that it would <a target="_self" href="https://www.bbc.co.uk/news/business-60665877" class="sc-c9299ecf-0 bZUiKB">temporarily close its 847 Russian outlets</a>.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The fast food giant has said that the move, which includes continuing to pay its 62,000 staff and restaurant employees in Russia, will cost about $50m (£38m) a month.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">"This is a really challenging and complex situation for a global company like us," said chief financial officer Kevin Ozan.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">A number of other US food retailers, including Starbucks, PepsiCo and Coca-Cola Co, have said they will stop some or all business in Russia following the Ukraine invasion.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Meanwhile Burger King has suspended all of its corporate support, marketing and investment in Russia. But as its Russian outlets are fully franchised, many will remain open as they are managed by local franchisees. </p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_7" id="dotcom-mid_7" class="dotcom-ad"></div></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Nationalisation warning</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">On Thursday, Russia's Izvestia newspaper reported that the Russian government had put together a list of about 60 foreign companies that could be nationalised in response to the suspension of operations.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">It said firms including Apple, Ikea, Microsoft, IBM, Shell, McDonald's, Porsche, Toyota and H&M could have their accounts and assets seized, and "external management" brought in, <a target="_blank" href="https://twitter.com/BBCWillVernon/status/1501825738688843780" class="sc-c9299ecf-0 bZUiKB">BBC News Moscow producer Will Vernon said.</a></p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">It is unclear how the nationalised companies would be able to sell the products associated with those firms.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">In response to Western sanctions, <a target="_self" href="https://www.bbc.co.uk/news/business-60689279" class="sc-c9299ecf-0 bZUiKB">Russia has imposed export bans on a string of products</a> until the end of 2022.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The ban covers exports of telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber.</p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_8" id="dotcom-mid_8" class="dotcom-ad"></div></div><div data-component="subheadline-block" class="sc-18fde0d6-0 eeiVGB"><h2 class="sc-518485e5-0 kRvAla">Call for help</h2></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Meanwhile in the UK, the CBI business lobby group called for government support as Western economies cope with the repercussions from Russia's invasion of Ukraine.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The CBI said it "fully supports" the sanctions that have been placed on Russia "despite their cost".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">But its director general Tony Danker said the UK government must help businesses cope with the fallout such as rising energy costs and inflation as well as any impact on investment. </p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">He said the UK and other countries "now need to confront the economic consequences of unwinding from Russia".</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">The CBI wants the government to "fast-track progress on some of the big policy issues and help firms invest".</p></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_9" id="dotcom-mid_9" class="dotcom-ad"></div></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">Mr Danker called for an acceleration of renewable energy and government support on energy bills, especially for energy intensive industries.</p></div><div data-component="text-block" class="sc-18fde0d6-0 dlWCEZ"><p class="sc-eb7bd5f6-0 fYAfXe">He also asked for the UK government "to stand behind domestic oil and gas in our energy transition" while the country should also "identify new trading partners" for minerals and other commodities, and enhance cyber security.</p></div><figure><div data-component="image-block" class="sc-18fde0d6-0 gfTVSf"><div data-testid="image" class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/1FCD/production/_105914180_line976-nc.png.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/1FCD/production/_105914180_line976-nc.png.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/1FCD/production/_105914180_line976-nc.png.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/1FCD/production/_105914180_line976-nc.png.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/1FCD/production/_105914180_line976-nc.png.webp 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data-analytics_group_item_count="5" data-analytics_group_link="" class="sc-ba42a659-1 GdVOW"><div data-testid="alaska-section" class="sc-ba42a659-2 jqWjKw"><div class="sc-7a382a26-2 lhbHDZ"><div class="sc-7a382a26-1 vyVNI"><hr data-testid="alaska-line" class="sc-7a382a26-0 iphYZF"/></div><div data-testid="section-title-wrapper" class="sc-7a382a26-3 gOPBZn"><div><div class="sc-7a382a26-7 jlJwDB"><span data-testid="alaska-title" class="sc-7a382a26-4 gQxUVz">More</span></div></div></div></div><div class="sc-da05643e-0 kbaPPZ"><div data-testid="alaska-grid" class="sc-93223220-0 sc-da05643e-1 fiJvSm djXsFQ"><div data-testid="liverpool-card"><div data-testid="anchor-inner-wrapper"><a href="/news/articles/ceqxezer7nqo" data-testid="internal-link" class="sc-2e6baa30-0 gILusN"><div class="sc-ae29827d-4 ypQFr"><div class="sc-ae29827d-1 hAmwyA"><div class="sc-6fba5bd4-0 bFzmvn"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bCFJJn">2 hrs ago</span></div></div><div data-testid="liverpool-article" class="sc-ae29827d-3 khCtOO"><div data-testid="card-media-wrapper" class="sc-ae29827d-5 jVhDCQ"><div data-testid="card-media" class="sc-ae29827d-2 bgogNC"><div class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1008px) 25vw, (min-width: 600px) 33vw, 50vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/352e/live/3e38f0b0-a9f7-11ef-8197-79b1848dd851.jpg.webp" alt="A man with his hood up is looking at his phone in a dark room, with several computer screens light up with bright green text are running in the background" class="sc-a34861b-0 efFcac"/></div></div></div><div data-testid="card-text-wrapper" class="sc-ae29827d-6 dzMUxv"><div class="sc-8ea7699c-1 gTeoVH"><div class="sc-8ea7699c-0 hcpAqY"><h2 data-testid="card-headline" class="sc-8ea7699c-3 gRBdkE">Russia ready to wage cyber war on UK, minister to say</h2></div></div><p data-testid="card-description" class="sc-ae29827d-0 cNPpME">Pat McFadden will tell a Nato conference that Russia could try to attack British businesses and power grids.</p><div class="sc-6fba5bd4-0 kZsXRf"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bffMcX">2 hrs ago</span><div data-testid="card-metadata-separator" class="sc-6fba5bd4-3 eQhLId"></div><span data-testid="card-metadata-tag" class="sc-6fba5bd4-2 bHkTZK">Europe</span></div></div></div></div></a></div></div><div data-testid="liverpool-card"><div data-testid="anchor-inner-wrapper"><a href="/news/articles/c39n4wdzdy4o" data-testid="internal-link" class="sc-2e6baa30-0 gILusN"><div class="sc-ae29827d-4 ypQFr"><div class="sc-ae29827d-1 hAmwyA"><div class="sc-6fba5bd4-0 bFzmvn"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bCFJJn">3 hrs ago</span></div></div><div data-testid="liverpool-article" class="sc-ae29827d-3 khCtOO"><div data-testid="card-media-wrapper" class="sc-ae29827d-5 jVhDCQ"><div data-testid="card-media" class="sc-ae29827d-2 bgogNC"><div class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1008px) 25vw, (min-width: 600px) 33vw, 50vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/ee40/live/09f91180-a34a-11ef-b604-65e44831060d.jpg.webp" alt="Headshot of David Crisp taken in St Petersburg. He has a grey moustache and rimless glasses and is wearing a black woollen beanie hat, a blue puffer coat, with a black jumper and other layers underneath. He is standing on a bridge over a frozen canal with an ornate church in the distance and buildings lining the canal. The sky is blue with soft sunlight on some of the buildings. " class="sc-a34861b-0 efFcac"/></div></div></div><div data-testid="card-text-wrapper" class="sc-ae29827d-6 dzMUxv"><div class="sc-8ea7699c-1 gTeoVH"><div class="sc-8ea7699c-0 hcpAqY"><h2 data-testid="card-headline" class="sc-8ea7699c-3 gRBdkE">Perfume boss admitted he ignored Russia sanctions</h2></div></div><p data-testid="card-description" class="sc-ae29827d-0 cNPpME">David Crisp told undercover agent he had ignored "government edicts" to sell £1.7m of his luxury product.</p><div class="sc-6fba5bd4-0 kZsXRf"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bffMcX">3 hrs ago</span><div data-testid="card-metadata-separator" class="sc-6fba5bd4-3 eQhLId"></div><span data-testid="card-metadata-tag" class="sc-6fba5bd4-2 bHkTZK">Europe</span></div></div></div></div></a></div></div><div data-testid="liverpool-card"><div data-testid="anchor-inner-wrapper"><a href="/news/articles/czd5myvyrjzo" data-testid="internal-link" class="sc-2e6baa30-0 gILusN"><div class="sc-ae29827d-4 ypQFr"><div class="sc-ae29827d-1 hAmwyA"><div class="sc-6fba5bd4-0 bFzmvn"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bCFJJn">13 hrs ago</span></div></div><div data-testid="liverpool-article" class="sc-ae29827d-3 khCtOO"><div data-testid="card-media-wrapper" class="sc-ae29827d-5 jVhDCQ"><div data-testid="card-media" class="sc-ae29827d-2 bgogNC"><div class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1008px) 25vw, (min-width: 600px) 33vw, 50vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/dc07/live/86c746d0-a996-11ef-bd2f-571080888323.jpg.webp" alt="French Foreign Minister Jean-Noël Barrot speaking with the BBC's Laura Kuenssberg. He is wearing a dark grey suit, white shirt and dark red striped tie" class="sc-a34861b-0 efFcac"/></div></div></div><div data-testid="card-text-wrapper" class="sc-ae29827d-6 dzMUxv"><div class="sc-8ea7699c-1 gTeoVH"><div class="sc-8ea7699c-0 hcpAqY"><h2 data-testid="card-headline" class="sc-8ea7699c-3 gRBdkE">No 'red lines' in Ukraine support, French foreign minister tells BBC</h2></div></div><p data-testid="card-description" class="sc-ae29827d-0 cNPpME">Jean-Noël Barrot speaks to Laura Kuenssberg after a week of escalation in Ukraine.</p><div class="sc-6fba5bd4-0 kZsXRf"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bffMcX">13 hrs ago</span><div data-testid="card-metadata-separator" class="sc-6fba5bd4-3 eQhLId"></div><span data-testid="card-metadata-tag" class="sc-6fba5bd4-2 bHkTZK">Europe</span></div></div></div></div></a></div></div><div data-testid="liverpool-card"><div data-testid="anchor-inner-wrapper"><a href="/news/articles/cpdvpyn779vo" data-testid="internal-link" class="sc-2e6baa30-0 gILusN"><div class="sc-ae29827d-4 ypQFr"><div class="sc-ae29827d-1 hAmwyA"><div class="sc-6fba5bd4-0 bFzmvn"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bCFJJn">14 hrs ago</span></div></div><div data-testid="liverpool-article" class="sc-ae29827d-3 khCtOO"><div data-testid="card-media-wrapper" class="sc-ae29827d-5 jVhDCQ"><div data-testid="card-media" class="sc-ae29827d-2 bgogNC"><div class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1008px) 25vw, (min-width: 600px) 33vw, 50vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/9f8b/live/76b37640-a9a7-11ef-a6cb-d5db24c1d21d.jpg.webp" alt="Volunteers standing round a table indoors wrapping gifts to be sent to Ukraine. They are all women, and on the table is red coloured festive wrapping paper" class="sc-a34861b-0 efFcac"/></div></div></div><div data-testid="card-text-wrapper" class="sc-ae29827d-6 dzMUxv"><div class="sc-8ea7699c-1 gTeoVH"><div class="sc-8ea7699c-0 hcpAqY"><h2 data-testid="card-headline" class="sc-8ea7699c-3 gRBdkE">'Wrapathon' of 25,000 gifts for Ukrainian children</h2></div></div><p data-testid="card-description" class="sc-ae29827d-0 cNPpME">Volunteers across the country wrap gifts to send to Ukraine for Christmas for the third year.</p><div class="sc-6fba5bd4-0 kZsXRf"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bffMcX">14 hrs ago</span><div data-testid="card-metadata-separator" class="sc-6fba5bd4-3 eQhLId"></div><span data-testid="card-metadata-tag" class="sc-6fba5bd4-2 bHkTZK">England</span></div></div></div></div></a></div></div><div data-component="ad-slot" data-testid="ad-unit" class="sc-d2ebd0a7-0 iayHyW"><div data-testid="dotcom-mid_10" id="dotcom-mid_10" class="dotcom-ad"></div></div><div data-testid="liverpool-card"><div data-testid="anchor-inner-wrapper"><a href="/news/articles/cx28dzvxjyjo" data-testid="internal-link" class="sc-2e6baa30-0 gILusN"><div class="sc-ae29827d-4 ypQFr"><div class="sc-ae29827d-1 hAmwyA"><div class="sc-6fba5bd4-0 bFzmvn"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bCFJJn">16 hrs ago</span></div></div><div data-testid="liverpool-article" class="sc-ae29827d-3 fKfpeF"><div data-testid="card-media-wrapper" class="sc-ae29827d-5 jVhDCQ"><div data-testid="card-media" class="sc-ae29827d-2 bgogNC"><div class="sc-a34861b-1 jxzoZC"><img src="/bbcx/grey-placeholder.png" class="sc-a34861b-0 cOpVbP hide-when-no-script"/><img sizes="(min-width: 1008px) 25vw, (min-width: 600px) 33vw, 50vw" srcSet="https://ichef.bbci.co.uk/news/240/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 240w,https://ichef.bbci.co.uk/news/320/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 320w,https://ichef.bbci.co.uk/news/480/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 480w,https://ichef.bbci.co.uk/news/640/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 640w,https://ichef.bbci.co.uk/news/800/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 800w,https://ichef.bbci.co.uk/news/1024/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 1024w,https://ichef.bbci.co.uk/news/1536/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp 1536w" src="https://ichef.bbci.co.uk/news/480/cpsprodpb/796f/live/75a122b0-a935-11ef-bdf5-b7cb2fa86e10.jpg.webp" alt="President Putin at Kremlin desk with defence ministry chiefs, 22 Nov 24" class="sc-a34861b-0 efFcac"/></div></div></div><div data-testid="card-text-wrapper" class="sc-ae29827d-6 dzMUxv"><div class="sc-8ea7699c-1 gTeoVH"><div class="sc-8ea7699c-0 hcpAqY"><h2 data-testid="card-headline" class="sc-8ea7699c-3 gRBdkE">Putin says Russia will use new missile again in 'combat conditions'</h2></div></div><p data-testid="card-description" class="sc-ae29827d-0 cNPpME">Ukraine's President Zelensky has urged a "serious response" to Moscow's use of its Oreshnik ballistic missile.</p><div class="sc-6fba5bd4-0 kZsXRf"><span data-testid="card-metadata-lastupdated" class="sc-6fba5bd4-1 bffMcX">16 hrs ago</span><div data-testid="card-metadata-separator" class="sc-6fba5bd4-3 eQhLId"></div><span data-testid="card-metadata-tag" class="sc-6fba5bd4-2 bHkTZK">Europe</span></div></div></div></div></a></div></div></div></div></div></aside><div class="zephr_meter_beta"></div><div class="zephr_story_beta"></div></main><hr data-testid="main-footer-divider" class="sc-be00b565-2 cxZZfa"/><footer data-testid="main-footer" class="sc-be00b565-0 hfihLu"><div class="sc-be00b565-3 bMDFAT"><div data-testid="anchor-inner-wrapper"><a href="/" 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All rights reserved. <i id="" class="sc-7dcfb11b-0 kKcaog"> </i>The<i id="bbc" class="sc-7dcfb11b-0 kKcaog"> BBC </i>is<i id="not-responsible-for-the-content-of-external-sites." class="sc-7dcfb11b-0 kKcaog"> not responsible for the content of external sites.</i> <a target="_self" href="https://www.bbc.co.uk/editorialguidelines/guidance/feeds-and-links" class="sc-c9299ecf-0 bZUiKB"><b id="read-about-our-approach-to-external-linking." class="sc-7dcfb11b-0 kVRnKf">Read about our approach to external linking.</b></a></p><p class="sc-eb7bd5f6-0 fYAfXe"> </p></div></footer></div></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"page":{"@\"news\",\"business-60691688\",":{"id":"urn:bbc:cps:curie:asset:41ffdefa-f3a6-444e-a629-3f7f0d216dcf","contents":[{"type":"headline","model":{"blocks":[{"type":"fragment","model":{"text":"Goldman Sachs and Western Union pull out of Russia","attributes":[]}}]}},{"type":"timestamp","model":{"timestamp":1646946376000}},{"type":"byline","model":{"blocks":[{"type":"timestamp","model":{"timestamp":1646946376000}}]}},{"type":"image","model":{"emphasiseImage":true,"blocks":[{"type":"altText","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"fragment","model":{"text":"Goldman Sachs office London","attributes":[]}}]}}]}},{"type":"rawImage","model":{"height":549,"width":976,"locator":"A7AB/production/_118332924_goldman.jpg","originCode":"cpsprodpb","copyrightHolder":"Getty Images"}},{"type":"caption","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"fragment","model":{"text":"Richard Gnodde said the company remained committed to its London head office","attributes":[]}}]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Goldman Sachs has said it will close its operations in Russia, becoming the first Wall Street bank to pull out of the country in response to the invasion of Ukraine.","blocks":[{"type":"fragment","model":{"text":"Goldman Sachs has said it will close its operations in Russia, becoming the first Wall Street bank to pull out of the country in response to the invasion of Ukraine.","attributes":["bold"]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Money transfer giant Western Union has also said it will suspend operations in Russia and Belarus.","blocks":[{"type":"fragment","model":{"text":"Money transfer giant Western Union has also said it will suspend operations in Russia and Belarus.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The firms join a rush of global brands halting operations in Russia.","blocks":[{"type":"fragment","model":{"text":"The firms join a rush of global brands halting operations in Russia.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Earlier on Thursday, the owner of Uniqlo made a 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Russia.","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_1"},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"More than 330 firms have withdrawn or significantly curtailed operations in the country in recent days, according to Yale researchers, who have been tracking the corporate response.","blocks":[{"type":"fragment","model":{"text":"More than 330 firms have withdrawn or significantly curtailed operations in the country in recent days, according to Yale researchers, who have been tracking the corporate response.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"On Thursday, Goldman Sachs said it would be \"winding down\" its business in Russia rather than leaving immediately.","blocks":[{"type":"fragment","model":{"text":"On Thursday, Goldman Sachs said it would be \"winding down\" its business in Russia rather than leaving immediately.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The bank said it was doing so \"in compliance with regulatory and licensing requirements\".","blocks":[{"type":"fragment","model":{"text":"The bank said it was doing so \"in compliance with regulatory and licensing requirements\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"At the end of 2021, Goldman Sachs' total credit exposure in Russia was $650m (£496m). ","blocks":[{"type":"fragment","model":{"text":"At the end of 2021, Goldman Sachs' total credit exposure in Russia was $650m (£496m). ","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Later Thursday, fellow Wall Street giant JP Morgan Chase also said it was \"actively unwinding Russian business\", with activities focused on taking care of staff and helping global clients manage risk and close out obligations. ","blocks":[{"type":"fragment","model":{"text":"Later Thursday, fellow Wall Street giant JP Morgan Chase also said it was \"actively unwinding Russian business\", with activities focused on taking care of staff and helping global clients manage risk and close out obligations. ","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_2"},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Meanwhile Western Union said it \"stands with the world in condemning the unprovoked and unjustified invasion of Ukraine\".","blocks":[{"type":"fragment","model":{"text":"Meanwhile Western Union said it \"stands with the world in condemning the unprovoked and unjustified invasion of Ukraine\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"\"Ultimately, in light of the ongoing tragic impact of Russia's prolonged assault on Ukraine, we have arrived at the decision to suspend our operations in Russia and Belarus,\" the company said.","blocks":[{"type":"fragment","model":{"text":"\"Ultimately, in light of the ongoing tragic impact of Russia's prolonged assault on Ukraine, we have arrived at the decision to suspend our operations in Russia and Belarus,\" the company said.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The action is a further blow to flows of money in Russia. Western Union provides international money transfer and payments services in more than 200 countries and 130 currencies.","blocks":[{"type":"fragment","model":{"text":"The action is a further blow to flows of money in Russia. Western Union provides international money transfer and payments services in more than 200 countries and 130 currencies.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"In an interview with the BBC published today, Ukrainain Central Bank Governor Kyrylo Shevchenko had called on Western Union to \"cease deliveries of cash to Russian and Belarusian banks.\"","blocks":[{"type":"fragment","model":{"text":"In an interview with the BBC published today, Ukrainain Central Bank Governor Kyrylo Shevchenko had called on Western Union to \"cease deliveries of cash to Russian and Belarusian banks.\"","attributes":[]}}]}}]}},{"type":"unorderedList","model":{"blocks":[{"type":"listItem","model":{"blocks":[{"type":"urlLink","model":{"text":"What sanctions are being imposed on Russia?","locator":"https://www.bbc.co.uk/news/world-europe-60125659","blocks":[{"type":"fragment","model":{"text":"What sanctions are being imposed on Russia?","attributes":[]}}]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_3"},{"type":"subheadline","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Change of direction","blocks":[{"type":"fragment","model":{"text":"Change of direction","attributes":[]}}]}}]}}],"level":2}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Earlier on Thursday, Uniqlo owner Fast Retailing said it had decided to change its stance on continuing trading in Russia.","blocks":[{"type":"fragment","model":{"text":"Earlier on Thursday, Uniqlo owner Fast Retailing said it had decided to change its stance on continuing trading in Russia.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"It said it was faced with \"operational challenges\" due to the \"worsening of the conflict situation\" after Russia's invasion of Ukraine.","blocks":[{"type":"fragment","model":{"text":"It said it was faced with \"operational challenges\" due to the \"worsening of the conflict situation\" after Russia's invasion of Ukraine.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Earlier in the week it had said it would keep its Russian shops open, saying that clothing is a \"necessity of life\".","blocks":[{"type":"fragment","model":{"text":"Earlier in the week it had said it would keep its Russian shops open, saying that clothing is a \"necessity of life\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"But in its latest statement, it said Uniqlo could \"no longer proceed\" in Russia.","blocks":[{"type":"fragment","model":{"text":"But in its latest statement, it said Uniqlo could \"no longer proceed\" in Russia.","attributes":[]}}]}}]}},{"type":"image","model":{"blocks":[{"type":"altText","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"fragment","model":{"text":"Uniqlo shop","attributes":[]}}]}}]}},{"type":"rawImage","model":{"height":549,"width":976,"locator":"168E4/production/_123588329_newpicture.jpg","originCode":"cpsprodpb","copyrightHolder":"Reuters"}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_4"},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"\"Uniqlo has made everyday clothing available to the general public in Russia,\" it said.","blocks":[{"type":"fragment","model":{"text":"\"Uniqlo has made everyday clothing available to the general public in Russia,\" it said.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"\"However, we have recently faced a number of difficulties, including operational challenges and the worsening of the conflict situation. For this reason, we will temporarily suspend our operations.\"","blocks":[{"type":"fragment","model":{"text":"\"However, we have recently faced a number of difficulties, including operational challenges and the worsening of the conflict situation. 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Ownership of its Russian businesses will be transferred to local management that will be independently operated, the group said. ","blocks":[{"type":"fragment","model":{"text":"The world's biggest insurance broker, New York-listed Marsh McLennan, also announced it would exit Russia on Thursday. Ownership of its Russian businesses will be transferred to local management that will be independently operated, the group said. ","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_5"},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Japanese firm Hitachi said it would stop exports and cease most operations in Russia except for vital electrical power facilities, following similar moves by US companies such as Caterpillar.","blocks":[{"type":"fragment","model":{"text":"Japanese firm Hitachi said it would ","attributes":[]}},{"type":"urlLink","model":{"text":"stop exports and cease most operations","locator":"https://www.hitachicm.com/global/important-notice_en/22-03-04e/","blocks":[{"type":"fragment","model":{"text":"stop exports and cease most operations","attributes":[]}}]}},{"type":"fragment","model":{"text":" in Russia except for vital electrical power facilities, following similar moves by US companies such as Caterpillar.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"\"We took multiple factors including the supply chain situation into account,\" a Hitachi spokesperson said.","blocks":[{"type":"fragment","model":{"text":"\"We took multiple factors including the supply chain situation into account,\" a Hitachi spokesperson said.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Ukraine's Vice Prime Minister Mykhailo Fedorov had been urging the suspension.","blocks":[{"type":"fragment","model":{"text":"Ukraine's Vice Prime Minister Mykhailo Fedorov ","attributes":[]}},{"type":"urlLink","model":{"text":"had been urging the suspension","locator":"https://twitter.com/FedorovMykhailo/status/1501152664834514951?ref_src=twsrc%5Etfw","blocks":[{"type":"fragment","model":{"text":"had been urging the suspension","attributes":[]}}]}},{"type":"fragment","model":{"text":".","attributes":["bold"]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Entertainment giant Sony, which had already stopped releasing films in Russia, suspended the launch of racing game \"Gran Turismo 7\".","blocks":[{"type":"fragment","model":{"text":"Entertainment giant Sony, which had already stopped releasing films in Russia, suspended the launch of racing game \"Gran Turismo 7\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Food companies Nestle, Mondelez, Procter \u0026 Gamble and Unilever have halted investment in Russia, but said they would continue providing essentials.","blocks":[{"type":"fragment","model":{"text":"Food companies Nestle, Mondelez, Procter \u0026 Gamble and Unilever have halted investment in Russia, but said they would continue providing essentials.","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_6"},{"type":"subheadline","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Fast food slowdown","blocks":[{"type":"fragment","model":{"text":"Fast food slowdown","attributes":[]}}]}}]}}],"level":2}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"McDonald's said on Tuesday that it would temporarily close its 847 Russian outlets.","blocks":[{"type":"urlLink","model":{"text":"McDonald's said on Tuesday","locator":"https://corporate.mcdonalds.com/corpmcd/en-us/our-stories/article/press-releases.Russia-update.html","blocks":[{"type":"fragment","model":{"text":"McDonald's said on Tuesday","attributes":[]}}]}},{"type":"fragment","model":{"text":" that it would ","attributes":[]}},{"type":"urlLink","model":{"text":"temporarily close its 847 Russian outlets","locator":"https://www.bbc.co.uk/news/business-60665877","blocks":[{"type":"fragment","model":{"text":"temporarily close its 847 Russian outlets","attributes":[]}}]}},{"type":"fragment","model":{"text":".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The fast food giant has said that the move, which includes continuing to pay its 62,000 staff and restaurant employees in Russia, will cost about $50m (£38m) a month.","blocks":[{"type":"fragment","model":{"text":"The fast food giant has said that the move, which includes continuing to pay its 62,000 staff and restaurant employees in Russia, will cost about $50m (£38m) a month.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"\"This is a really challenging and complex situation for a global company like us,\" said chief financial officer Kevin Ozan.","blocks":[{"type":"fragment","model":{"text":"\"This is a really challenging and complex situation for a global company like us,\" said chief financial officer Kevin Ozan.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"A number of other US food retailers, including Starbucks, PepsiCo and Coca-Cola Co, have said they will stop some or all business in Russia following the Ukraine invasion.","blocks":[{"type":"fragment","model":{"text":"A number of other US food retailers, including Starbucks, PepsiCo and Coca-Cola Co, have said they will stop some or all business in Russia following the Ukraine invasion.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Meanwhile Burger King has suspended all of its corporate support, marketing and investment in Russia. But as its Russian outlets are fully franchised, many will remain open as they are managed by local franchisees. ","blocks":[{"type":"fragment","model":{"text":"Meanwhile Burger King has suspended all of its corporate support, marketing and investment in Russia. But as its Russian outlets are fully franchised, many will remain open as they are managed by local franchisees. ","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_7"},{"type":"subheadline","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Nationalisation warning","blocks":[{"type":"fragment","model":{"text":"Nationalisation warning","attributes":[]}}]}}]}}],"level":2}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"On Thursday, Russia's Izvestia newspaper reported that the Russian government had put together a list of about 60 foreign companies that could be nationalised in response to the suspension of operations.","blocks":[{"type":"fragment","model":{"text":"On Thursday, Russia's Izvestia newspaper reported that the Russian government had put together a list of about 60 foreign companies that could be nationalised in response to the suspension of operations.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"It said firms including Apple, Ikea, Microsoft, IBM, Shell, McDonald's, Porsche, Toyota and H\u0026M could have their accounts and assets seized, and \"external management\" brought in, BBC News Moscow producer Will Vernon said.","blocks":[{"type":"fragment","model":{"text":"It said firms including Apple, Ikea, Microsoft, IBM, Shell, McDonald's, Porsche, Toyota and H\u0026M could have their accounts and assets seized, and \"external management\" brought in, ","attributes":[]}},{"type":"urlLink","model":{"text":"BBC News Moscow producer Will Vernon said.","locator":"https://twitter.com/BBCWillVernon/status/1501825738688843780","blocks":[{"type":"fragment","model":{"text":"BBC News Moscow producer Will Vernon said.","attributes":[]}}]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"It is unclear how the nationalised companies would be able to sell the products associated with those firms.","blocks":[{"type":"fragment","model":{"text":"It is unclear how the nationalised companies would be able to sell the products associated with those firms.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"In response to Western sanctions, Russia has imposed export bans on a string of products until the end of 2022.","blocks":[{"type":"fragment","model":{"text":"In response to Western sanctions, ","attributes":[]}},{"type":"urlLink","model":{"text":"Russia has imposed export bans on a string of products","locator":"https://www.bbc.co.uk/news/business-60689279","blocks":[{"type":"fragment","model":{"text":"Russia has imposed export bans on a string of products","attributes":[]}}]}},{"type":"fragment","model":{"text":" until the end of 2022.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The ban covers exports of telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber.","blocks":[{"type":"fragment","model":{"text":"The ban covers exports of telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber.","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_8"},{"type":"subheadline","model":{"blocks":[{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Call for help","blocks":[{"type":"fragment","model":{"text":"Call for help","attributes":[]}}]}}]}}],"level":2}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Meanwhile in the UK, the CBI business lobby group called for government support as Western economies cope with the repercussions from Russia's invasion of Ukraine.","blocks":[{"type":"fragment","model":{"text":"Meanwhile in the UK, the CBI business lobby group called for government support as Western economies cope with the repercussions from Russia's invasion of Ukraine.","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The CBI said it \"fully supports\" the sanctions that have been placed on Russia \"despite their cost\".","blocks":[{"type":"fragment","model":{"text":"The CBI said it \"fully supports\" the sanctions that have been placed on Russia \"despite their cost\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"But its director general Tony Danker said the UK government must help businesses cope with the fallout such as rising energy costs and inflation as well as any impact on investment. ","blocks":[{"type":"fragment","model":{"text":"But its director general Tony Danker said the UK government must help businesses cope with the fallout such as rising energy costs and inflation as well as any impact on investment. ","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"He said the UK and other countries \"now need to confront the economic consequences of unwinding from Russia\".","blocks":[{"type":"fragment","model":{"text":"He said the UK and other countries \"now need to confront the economic consequences of unwinding from Russia\".","attributes":[]}}]}}]}},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"The CBI wants the government to \"fast-track progress on some of the big policy issues and help firms invest\".","blocks":[{"type":"fragment","model":{"text":"The CBI wants the government to \"fast-track progress on some of the big policy issues and help firms invest\".","attributes":[]}}]}}]}},{"type":"advertisement","model":{"adType":"horizontal"},"incrementedType":"mid_9"},{"type":"text","model":{"blocks":[{"type":"paragraph","model":{"text":"Mr Danker called for an acceleration of renewable energy and government support on 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