Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Intel becomes latest Western tech firm to suspend business in Russia

Published 04/05/2022, 09:31 PM
Updated 04/06/2022, 06:26 AM
© Reuters. FILE PHOTO: The Intel Corporation logo is seen on a display in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly

(Reuters) -U.S. chipmaker Intel Corp (NASDAQ:INTC) said on Tuesday it has suspended business operations in Russia, joining a slew of companies to exit the country following its invasion of Ukraine.

The company, which had last month suspended shipments to customers in Russia and Belarus, said it has implemented business continuity measures to minimize disruption to its global operations.

"Intel continues to join the global community in condemning Russia's war against Ukraine and calling for a swift return to peace," the company said.

© Reuters. FILE PHOTO: The Intel Corporation logo is seen on a display in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly

International Business Machines (NYSE:IBM) Corp too had suspended shipments as Ukraine urged U.S. cloud-computing and software companies to cut off business with Russia.

Servers from IBM , Dell Technologies (NYSE:DELL) Inc and Hewlett Packard Enterprise (NYSE:HPE) Co top the market in Russia, where companies and government agencies have relied on technology developed by the West as the basis for their owned-and-operated IT systems.

Latest comments

Netflix part 2
Now business are being used as a political tools
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.