NEW YORK, March 2, 2022 (BSS/AFP) - Apple, ExxonMobil and Boeing announced
Tuesday in rapid succession steps to withdraw or freeze business in Russia as
more US corporate giants take action after the Ukraine invasion.

   The moves -- in diverse industries and following earlier announcements by
Disney, Ford, Mastercard and others -- highlight the rising economic toll on
Russia after its assault on Ukraine unleashed massive sanctions across
Western governments.

   ExxonMobil will begin a phased withdrawal from the giant Sakhalin offshore
oilfield that it has operated since 1995, saying "we deplore Russia's
military action that violates the territorial integrity of Ukraine and
endangers its people."

   The US company operates in Russia on behalf of a consortium including
Russian, Indian and Japanese companies, its only major project in Russia,
after it pulled out of two joint ventures during the previous round of
sanctions against Russia following its annexation of Crimea in 2014.

   ExxonMobil's move follows earlier decisions by British energy group BP and
Shell to pull out of joint projects in Russia. France's TotalEnergies said it
would stay in Russia, but refrain from investing more money there.

   ExxonMobil stressed that "the process to discontinue operations will need
to be carefully managed and closely coordinated with the co-venturers in
order to ensure it is executed safely."

   - Focus on security of staff -

   Earlier, Apple said it would halt all product sales in Russia and limit
the use of Apple Pay and other services in the country.

   "We are deeply concerned about the Russian invasion of Ukraine and stand
with all of the people who are suffering as a result of the violence," Apple
said.

   Ukraine's defiant government, which has urged its people to battle Russian
forces, has asked for help from all quarters, including Apple's CEO Tim Cook.

   "I appeal to you... to stop supplying Apple services and products to the
Russian Federation, including blocking access to the Apple Store!" Ukraine's
digital minister Mykhailo Fedorov wrote in a letter he posted to Twitter
Friday. Boeing for its part said it was suspending its support for Russian
airlines and its operations in Moscow, saying it was "focused on ensuring the
safety of our teammates in the region."

   The action could weigh heavily on flag carrier Aeroflot, which flies the
Boeing 737 and 777, and last week announced it was suspending flights to
Europe in response to the flight ban.

   The United States and European allies have put tough sanctions on Moscow
in recent days, including by cutting selected Russian banks from the SWIFT
messaging system, while Washington has announced measures specifically
targeting the country's central bank.

   There has also been a stampede of large US companies in recent days away
from Russia affecting nearly every sector.

   Disney and WarnerMedia were among the entertainment giants to suspend new
film releases in Russia, while tech heavyweights such as Facebook, TikTok and
Microsoft moved to curb the reach of Russian state-linked news outlets, which
stand accused of pushing misinformation about Moscow's invasion of Ukraine.

   General Motors suspended vehicle exports to Russia, while Detroit rival
Ford aid it was suspending its remaining operations in Russia, including
commercial van manufacturing.

   Credit card companies including Visa, Mastercard and American Express
announced they were blocking Russian banks from their payment networks
following international sanctions.

   On Tuesday, Moscow announced plans for presidential decree aimed at
preventing foreign investment exiting the country.

   "In the current sanctions situation, foreign investors will be guided not
by economic factors, but by political pressure," Prime Minister Mikhail
Mishustin said.

   "To enable businesses to make informed decisions, a draft presidential
decree has been prepared to introduce temporary restrictions on exiting
Russian assets."

   He added: "We still consider foreign business as potential partners."