TikTok, Netflix and AmEx join Russia exit as war in Ukraine escalates
Tik Tok and
joined the rush of companies cutting ties with Russia in response to global outrage over Ukraine’s invasion and Russia’s crackdown on the media.
“In light of Russia’s new ‘fake news’ law, we have no choice but to suspend live streaming and new content from our video service while we consider the implications of this law for of security. Our in-app messaging service will not be affected,” TikTok, which is owned by China’s ByteDance, said in a statement. Tweeter.
Netflix (ticker: NFLX) also said it had decided to shut down its service in Russia “given the circumstances on the ground”. Last week, the streaming giant said it would refuse to carry Russian state TV channels.
President Vladimir Putin’s new media law threatens prison terms of up to 15 years for journalists and others spreading “fake news”. The government also said it would fine anyone who called for sanctions against Russia.
US credit card company American Express (ticker: AXP) has joined its rivals
(symbol: V) and
(symbol: MA) by suspending operations in Russia and Belarus, citing the invasion. AmEx cards will be does not work anymore at Russian merchants or ATMs and cards issued by Russian banks on the American Express global system will no longer work outside the country.
Two of the Big Four accounting firms, KPMG and PricewaterhouseCoopers, have also decided to end their relationships with their Russia-based member firms, both of which employ thousands of people in the country.
Write to Lina Saigol at firstname.lastname@example.org