Russia says it's blocking Facebook in alarming new censorship push
Source: The Verge
Russia’s communications agency Roskomnadzor announced Friday that it is blocking access to Facebook in Russia. It cited 26 cases of “discrimination against Russian media and information resources by Facebook” since October 2020, in addition to the more-recent restrictions Facebook has placed on Russian state media outlets.
In response, Meta president of global affairs Nick Clegg tweeted in response to the move, saying “Soon millions of ordinary Russians will find themselves cut off from reliable information, deprived of their everyday ways of connecting with family and friends and silenced from speaking out. We will continue to do everything we can to restore our services so they remain available to people to safely and securely express themselves and organize for action.”
The block comes after increasing domestic protests over the country’s ongoing invasion of Ukraine. Russians have taken to the streets in massive numbers to protest the ongoing invasion, provoking thousands of arrests. The regime has denied any plans to institute martial law, but has issued ongoing threats to outlets that publish information critical of the ongoing war effort, including Wikipedia.
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Many tech platforms have already begun restricting services in Russia. Google-owned YouTube has blocked Russian news channels RT and Sputnik in Europe, for example, while Facebook has blocked RT and Sputnik in the EU and stopped recommending Russian state media globally. Apple has also halted product sales in the country.
20,000 West Coast port workers refuse to handle Russian cargo
Source: Seattle Times
As the Russia invasion of Ukraine shows no sign of letting up, longshore workers on Thursday said they would refuse to load or unload any Russian vessel or handle any incoming or outgoing Russian cargo.
The announcement by the International Longshore and Warehouse Union covers some 20,000 workers at all 29 U.S. West Coast ports.
“With this action in solidarity with the people of Ukraine, we send a strong message that we unequivocally condemn the Russian invasion,” said ILWU International President Willie Adams.
Throughout the past week, we have watched the news from Ukraine and the worsening humanitarian crisis that is unfolding. Our company’s commitment is to help those impacted by this terrifying violence and to provide assistance in every way possible.
Today, we are announcing that Activision Blizzard will be suspending new sales of and in our games in Russia while this conflict continues. We will continue to look at ways to support the Ukrainian people. I want to reassure you that the safety of our employees is our leadership team’s top priority. We are doing everything possible to assist employees, and their families, who are being directly affected by this tragedy. If you or a colleague needs support, please don’t hesitate to reach out to your manager or local HR leaders. I’d also like to remind you that our Employee Assistance Program is available to those who need emotional support during this difficult time.
I also want to take a moment to recognize the incredible work of our teams to support the Ukrainian people. The company is matching employee donations 2:1 to organizations providing immediate relief in the region. Together we have raised over $300,000 in this effort. Next week we plan to add additional charities to choose from for consideration and also will raise the company matching limit from $1,000 to $10,000.
I’d also like to applaud the tremendous contributions from our colleagues in Poland, where people have volunteered their time to assist Ukrainian refugees and others in need. We continue to work with them to find ways we can further assist this effort. We stand with the Ukrainian people and will provide updates on any new actions we take as this crisis continues to unfold.
Russian banks consider China UnionPay cards after sanctions
Source: AP
LONDON (AP) — Leading Russian banks are looking into issuing cards that operate on a Chinese payment system after Visa and Mastercard said they would cut their services in Russia over the invasion of Ukraine.
Sberbank and Tinkoff Bank said Sunday that they are considering the possibility of payment cards powered by China’s UnionPay system. Sberbank, Russia’s largest bank, said it would announce the launch date later.
Sberbank and Tinkoff told users that they will be able to use Visa and Mastercard for transactions within Russia but they will stop working for payments outside of the country after Wednesday.
The Russian central bank warned Sunday that all cards using the Visa or Mastercard systems will stop working for both purchases on foreign websites and transactions abroad.
U.S. Again Tells Citizens to Leave Russia by Car as Airlines Halt Flights
Source: Newsweek
The U.S. government is urging all citizens to leave the country by car as tensions over the invasion of Ukraine continue to escalate.
The U.S. Embassy and Consulates in Russia issued the Level 4 alert on Saturday, citing "the potential for harassment against U.S. citizens by Russian government security officials [and] the Embassy's limited ability to assist U.S. citizens in Russia" is possible. The official website noted that commercial flight options for Americans leaving the country are limited and suggested that they consider "overland routes by car and bus."
"If you wish to depart Russia, you should make arrangements on your own as soon as possible," the embassy's statement read. "If you plan to stay in Russia, understand the U.S. Embassy has severe limitations on its ability to assist U.S. citizens, and conditions, including transportation options may change suddenly. U.S. citizens who are able to depart Russia for another country and are in need of emergency assistance upon arrival may contact a U.S. embassy or consulate in that country."
Extra caution was advised for Americans living near the Russian border with Ukraine or those planning to travel near that area, due to the "dangerous and unpredictable" circumstances.
Russia's credit rating slashed to second worst level of junk
Russia is considered more likely to default on its debts than Iraq, Ecuador or Ethiopia after Moody’s slashed the country’s credit rating to the second-lowest rung.
The ratings agency suggested that Moscow is on the brink of defaulting on its sovereign debt after cutting Russia’s rating deeper into “junk” territory.
It reduced Russia’s creditworthiness by four rungs from a “B3” grade to “Ca”. It is the second-lowest grade at Moody’s, and only collapsed economies Venezuela and Lebanon have a sovereign debt rating below “Ca”.
Biden is expected to ban Russian oil imports into the United States.
Source: New York Times
WASHINGTON — President Biden is expected on Tuesday morning to ban the importation of Russian oil into the United States, a senior administration official said, making the move after pressure from lawmakers in both parties to punish Russia for its invasion of Ukraine.
Mr. Biden is scheduled to make the announcement at 10:45 a.m. Tuesday from the White House.
Shell won't buy any more Russian oil or gas
Source: CNN
Shell (RDSA) said Tuesday it was breaking completely with Russia's giant energy industry, halting all purchases of Russian crude oil immediately and shutting its service stations in the country.
The UK-based company, which last week announced it was dumping its investments in Russia, said its decision to abandon all trade in Russian fossils fuels was "aligned with new government guidance."
Russia's vast energy exports have so far been carved out of the unprecedented sanctions imposed by the West in response to President Vladimir Putin's decision to order his troops to invade Ukraine.
Morgan Stanley Says Russia’s Set for Venezuela-Style Default
The odds of Russia making its foreign debt payments are diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co.
“We see a default as the most likely scenario,” Simon Waever, the firm’s global head of emerging-market sovereign credit strategy, wrote in a Monday note. “In case of default, it is unlikely to be like a normal one, with Venezuela instead perhaps the most relevant comparison.”
The default may come as soon as April 15, which will mark the end of a 30-day grace period on coupon payments the Russian government owes on dollar bonds due in 2023 and 2043, he said.
Indicative pricing show investors value the 2023 bonds at around 29 cents on the U.S. dollar, the lowest ever, according to data collected by Bloomberg, though there appears to have been no trades at that level. In the days before Russia invaded Ukraine last month, the debt was trading above par.
PepsiCo and Coca-Cola on Tuesday said they were suspending business in Russia after that country’s invasion of Ukraine, joining McDonald’s, Starbucks and host of other U.S. corporations.
“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coke said in a brief statement Tuesday afternoon. “We will continue to monitor and assess the situation as circumstances evolve.”
Like McDonald’s, Coke had been under pressure to stop operating in Russia in recent days. However, the market represents one of the few regions worldwide where rival PepsiCo has a larger presence.
Earlier on Tuesday, both McDonald’s and Starbucks announced that their Russian restaurants would temporarily close. Of the two restaurant companies, McDonald’s has a larger presence in the country and receives a higher percentage of its global revenue from those sales. Starbucks also said that all of its Russian business activity is suspended, including shipping its products.
Since the Russian invasion of Crimea in 2014, many U.S. companies have looked to reduce their exposure in both Russia and Ukraine.
(Mother Jones) On a sunny 30-degree Sunday, February 27, Svyatoslav Blokhin, a 24-year-old software developer, saw messages on Telegram channels that protests in Moscow would be starting at 4 p.m.
Blokhin had first joined in the demonstrations on February 24, when the invasion started. On that first day, he didn’t know when or where people were meeting, but he says that his heart called him to participate. “I expected other people to be on the streets,” he told me, “and they were on the streets.”
On that Sunday, Blokhin had started at a different location from the rest of the group to decrease the risk of getting detained by the police. He joined a group of people who had gathered on Novy Arbat Street, a major artery lined with high-rise offices and shopping centers. Blokhin and his wife fell in with a column of hundreds of people, some of them holding homemade signs with slogans like “Putin is a murderer,” and “Freedom for Ukraine.” They marched down the narrow Bolshoi Afanasyevski Lane to the golden-domed Cathedral of Christ the Savior, chanting “net voine,” which means “no to war,” as well as some more profane chants about Russia’s president. “There is a word ‘hooey’ in Russian, which literally translates as a ‘dick,’” Blokhin explained somewhat apologetically. “But in Russian, it sounds more brutal and more aggressive, as do all the swear words in Russian, I guess.”
At the Cathedral of Christ the Savior, the demonstrators ran into groups of Moscow police and Russian National guards, or Rosgvardiya, who started to charge and catch people, subduing them with batons. Blokhin got out of the way, joining around 350 people who crossed a bridge toward Gorky Park.
From the bridge, he saw buses of police rolling in, about 1,000 according to Blokhin’s estimate. Being so outnumbered, Blokhin and his wife’s only option was to escape. “I’m angry. I’m scared, of course, and I’m nervous. But the main feeling is anger, and I want other people to join protesters on the streets.” he says.
Nestle to halt all capital investment in Russia over invasion of Ukraine
45 minutes ago
Nestle has suspended all capital investment in Russia amid growing pressure on multinational firms to pull out of the country after it invaded Ukraine.
Sony suspends all PlayStation sales in Russia over Ukraine war
Source: CNBC
Sony has stopped selling its PlayStation consoles and software in Russia, becoming the latest major brand to withdraw from the country over the Ukraine war.
A representative for Sony’s video game unit said in a statement on Wednesday that the company has suspended all software and hardware shipments in the country, as well as the launch of new racing title Gran Turismo 7. The PlayStation Store also will no longer be available in Russia.
“Sony Interactive Entertainment (SIE) joins the global community in calling for peace in Ukraine,” the company said.
“To support humanitarian aid, Sony Group Corporation announced a $2 million donation to the United Nations High Commissioner for Refugees (UNHCR) and the international NGO, Save the Children, to support the victims of this tragedy,” the company statement added.
Caterpillar, Deere Join Firms Suspending Business in Russia
Source: Bloomberg
Two of the world’s largest manufacturers of machinery equipment needed for everything from farms to construction sites said they suspended business in Russia following the nation’s invasion of Ukraine, further isolating the country from the global economy.
Deere & Co. said it halted shipments of machines to Russia two weeks ago as the nation invaded Ukraine, and subsequently stopped deliveries to Belarus. Caterpillar Inc. said it suspended operations at its plants in Russia as doing business in the country has become increasingly challenging due to factors including supply chain disruptions and sanctions.
Deere is the world’s largest producer of farm equipment ranging from tractors to planters to combines. Caterpillar producers equipment critical to the construction, mining and oil and gas industries across the globe.
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“John Deere is deeply saddened by the significant escalation of events in Ukraine,” Jennifer Hartmann, a Deere spokeswoman, said in an emailed statement. “Two weeks ago, we suspended shipments of machines to Russia and then subsequently, Belarus. We continue to monitor the situation closely while we fully abide by U.S. and international sanctions.”
Russia says its businesses can steal patents from anyone in ‘unfriendly’ countries
Russia has effectively legalized patent theft from anyone affiliated with countries “unfriendly” to it, declaring that unauthorized use will not be compensated.
The decree, issued this week, illustrates the economic war waged around Russia’s invasion of Ukraine, as the West levies sanctions and pulls away from Russia’s huge oil and gas industry. Russian officials have also raised the possibility of lifting restrictions on some trademarks, according to state media, which could allow continued use of brands such as McDonald’s that are withdrawing from Russia in droves.
The effect of losing patent protections will vary by company, experts say, depending on whether they have a valuable patent in Russia. The U.S. government has long warned of intellectual property rights violations in the country; last year Russia was among nine nations on a “priority watch list” for alleged failures to protect intellectual property. Now Russian entities could not be sued for damages if they use certain patents without permission.
Putin playing 5D chess has managed to collapse Russia's economy in two weeks, ensuring no Western or allied country invests in Russia again. Tactical genius.
Biden announces US will move to revoke 'most favored nation' trade status for Russia
Source: CNBC
(CNN) President Joe Biden announced Friday that the US, along with the G7 and European Union, will call for revoking "most favored nation" status for Russia, referred to as permanent normal trade relations in the US.
Biden said the move and said it would hold Russian President Vladimir Putin "even more accountable for his aggression against Ukraine."
"Each of our nations will take steps to deny 'most favored nation' status to Russia. A most favored nation status designation means two countries have agreed to trade with each other under the best possible terms -- low tariffs, few barriers to trade and the highest possible imports allowed," Biden said.
"In the United States, we call this permanent normal trade relations, PNTR, but it's the same thing. Revoking PNTR for Russia is going to make it harder for Russia to do business with the United States and doing it in unison with other nations that make up half of the global economy will be another crushing blow to the Russian economy that's already suffering very badly from our sanctions."
The move requires an act of Congress. The move was one of multiple new actions on trade expected to be made by the Biden administration toward Russia. The United States will also ban imports of alcohol and seafood, such as vodka and caviar, from Russia, a White House official told CNN.
As Russia's economy gets pummeled by increasingly severe western sanctions for its invasion of Ukraine, the country's crucial airline industry could soon find itself on life support.
