Maersk, the world’s largest shipping company, has announced a temporary halt to all container transport to and from Russia, furthering the country’s isolation as its invasion of Ukraine triggers an exodus of Western corporations.
Russian aircraft have been denied access to airspace, some Russian institutions have been denied access to the SWIFT global banking network, and Moscow’s ability to utilise its $630 billion in foreign reserves has been limited.
BP and Shell have exited multibillion-dollar investments, while major banks, airlines, automakers, and others have halted shipments, terminated agreements, and condemned Russia’s conduct.
The West has placed severe limitations on Russia in order to isolate its economy and cut it off from the global financial system, essentially rendering it “uninvestable” and urging businesses to suspend sales, terminate links, and sell tens of billions of dollars’ worth of assets.
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