A growing number of private companies are cutting ties with Russia as Vladimir Putin's invasion of Ukraine intensifies and Western countries impose economic sanctions.

One of the first steps was taken when European football's governing body UEFA moved the Champions League final from Russia to Paris on May 28 and the European Broadcasting Union banned Russia to enter the Eurovision Song Contest.

Since then, a series of companies have supported Ukraine and severed trade relations with Russia, triggering a wave of private sanctions against the country.

On Sunday, Chinese company TikTok announced it was suspending live streaming in Russia due to the country's new 'fake news' law aimed at silencing dissent and restricting information about its invasion of Ukraine. . And Netflix announced it would suspend operations in Russia, making it one of the biggest media companies to pull out of the market after attacking Ukraine.

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Here's a look at Western companies leaving Russia amid rising tensions.

Netflix Inc. is closing its operations in Russia, one of the biggest media companies that pulled out of the market after the attack on Ukraine.

New customers can't sign up and it's unclear what will happen to existing accounts, the company said. The service has more than a million customers in Russia.

The streaming giant has previously said it will not carry required Russian news channels on its local language service in the country, and has also halted all projects and acquisitions from Russia, including four original Russian programs. in production.

TikTok's decision to be owned by Chinese company ByteDance Ltd. heard comes after Russia's parliament passed tough legislation that would impose prison terms on those accused of spreading "fake news" about the military or calling for sanctions against Russia. The short-video social media platform popular with teens has eclipsed one billion users in the past year.

“We have no choice but to suspend live streaming and new content from our video service while we review the implications of this security law,” the company announced in a series of tweets.

The home-sharing company is ceasing operations in Russia and Belarus, chief executive Brian Chesky said in a tweet.

According to data from market research company AirDNA, there are more than 90,000 active short-term rentals on various platforms in Russia. Minsk, the capital of Belarus, has just over 1,800 active short-term rentals. Chesky previously said sanctions imposed by the United States and other countries have made doing business in Russia more difficult.

The Swedish furniture giant closed all stores in Russia and stopped sourcing materials from the region and neighboring Belarus.

Ikea has 17 stores in Russia and the change in operations will directly impact 15,000 workers, according to a company statement.

The luxury fashion house is "deeply concerned about the situation in Europe", according to a brief statement from LinkedIn, and will temporarily close its stores and suspend business operations in Russia.

Volkswagen Group
The auto giant, which comprises 10 brands including Audi, Lamborghini, Bentley and Porsche, has stopped producing its vehicles in Russia.

It also halted exports to the country with immediate effect.

The largest U.S. aluminum producer, Alcoa, said on Wednesday it would stop selling products to Russian companies and buying raw materials from the country, becoming the world's first major aluminum producer to avoid Russia. in response to the invasion of Ukraine.

In a letter to employees, Alcoa CEO Roy Harvey said that although Alcoa has no offices in Ukraine or Russia, "In response to the current aggression, Alcoa will stop purchasing materials first to Russian companies or our products to Russian companies for sale". adding: "After careful consideration, we have decided that the time has come to act."

H&M announced late Wednesday that it will temporarily suspend all sales in Russia and close more than 150 stores in the country as clothing brands join the boycott.