Ukraine news: Ikea, H&M pause Russia operations
Ikea is also pausing exports, imports in and out of Belarus
Ikea and H&M have joined the growing list of companies halting operations in Russia following the invasion of Ukraine.
On Thursday, Inter Ikea Group announced that it is pausing exports and imports in and out of Russia as well as Belarus, which is supporting Russia.
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"The war has a huge human impact already," Inter Ikea Group said in a statement. "It is also resulting in serious disruptions to supply chain and trading conditions. For all of these reasons, the company groups have decided to temporarily pause Ikea operations in Russia."
KEA Store in Montreal. (iStock / iStock)
Ikea also paused all retail operations in Russia, a move that will impact 15,000 Ikea co-workers, according to Inter Ikea Group.
The company has 17 stores and 9 planning studios in Russia. It doesn't have any stores or retail businesses in Belarus, the company told FOX Business.
"The devastating war in Ukraine is a human tragedy and our deepest empathy and concerns are with the millions of people impacted," Ikea Group added.
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The move comes just after H&M Group announced that it would temporarily pause all sales in Russia, saying that it's "deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering."
H&M stores in Ukraine have already closed temporarily in order to keep customers and employees safe.
An H&M store in Washington, D.C. (iStock / iStock)
Meanwhile, both companies are also doing their part to help Ukrainians who are severely suffering.
Inter Ikea Group said it already started several initiatives to help Ukrainians with emergency relief. For instance, the Ikea Foundation, which is funded by the Ingka Foundation, is donating 20 million euros "for humanitarian assistance to those who have been forcibly displaced as a result of the conflict in Ukraine."
Likewise, the H&M Foundation has also made donations to Save the Children and the United Nations High Commissioner for Refugees.
"H&M Group cares for all colleagues and joins all those around the world who are calling for peace. Clothes and other necessities are donated by the company," the company said.