March 10 (Reuters) – Rio Tinto has become the first major mining company to cut ties with Russian companies and Japan’s Sony and Nintendo have suspended shipments of their games consoles, joining a global exodus of companies from Russia following its invasion of Ukraine.

Japanese construction machinery supplier Hitachi said it would halt exports and cease most operations in Russia, except vital electrical installations, following similar exits from US industrial companies Caterpillar (CAT.N) , 3M Co (MMM.N), Deere (DE.N). ) and Honeywell (HON.O).

“We considered several factors, including the supply chain situation,” a Hitachi spokesperson said, echoing a Caterpillar statement.

The Nikkei newspaper reported that Hitachi suspended operations in Russia following a request from the Ukrainian government.

Sony (6758.T), whose film studio had already stopped releases in Russia, suspended the launch of the racing game “Gran Turismo 7”. Rival Nintendo (7974.T) said it has delayed the worldwide release of “Advance Wars 1+2: Re-Boot Camp,” a turn-based strategy game with a military theme. Read more

Food companies Nestle (NESN.S), Mondelez (MDLZ.O), Procter & Gamble (PG.N) and Unilever (ULVR.L) halted investments in Russia, but said they would continue to supply products essential.

Coke (KO.N) and McDonald’s (MCD.N) halted sales in Russia, KFC owner Yum Brands (YUM.N) suspended investments and hoteliers Hilton (HLT.N) and Hyatt (HN ) have announced that they will suspend development. .

Japan’s Shiseido (4911.T) suspended exports of its cosmetics to Russia from Europe as well as advertising and promotions.

While some companies such as Ford (FN) and Apple (AAPL.O) have condemned Russia’s invasion of Ukraine, others, including Japanese automaker Toyota (7203.T), have taken a stance. more neutral, attributing the halt in production in Russia to logistical obstacles. . Read more

Broad Western sanctions have isolated Russia even as shippers have suspended routes, and European Union leaders plan to phase out buying Russian energy in a bid to be less dependent on Russia after his invasion of Ukraine. Read more

The war, which entered its third week on Thursday, has killed thousands and rendered more than two million refugees. Read more

It decimated the rouble, rattled stock markets, and prices for oil and other commodities soared, adding to global inflation that was soaring even before the conflict began.

PAY IN RUBLES

Russia plans to order local airlines to pay for leased planes in rubles and ban them from returning planes to foreign companies if the latter cancel the lease, according to a draft law released Thursday.

Moscow, which calls the war a “special military operation”, has warned it could nationalize idle foreign assets in retaliation for Western sanctions.

Rio Tinto (RIO.L), (RIO.AX), which holds an 80% stake in a joint venture with Russian aluminum producer Rusal (RUAL.MM), said it was “in the process of terminate all business relations it has with any Russian company.” Read more

Earlier, a senior executive at the Anglo-Australian firm said the company was looking for alternative fuel sources for its Mongolian copper operations at Oyu Tolgoi but did not believe it could stop buying from Russia altogether. Read more

It was not immediately clear whether Rio would continue to purchase Russian fuel through non-Russian third parties.

Rio rival BHP (BHP.AX), which earlier this week said the war was having a “dramatic impact” on its business in terms of commodity prices, did not immediately comment on Thursday whether it had business ties with Russian companies. and would consider ending it.

Italian energy group Eni suspended oil purchases from Russia and said it was closely monitoring developments in gas supplies. Read more

Eni, which had previously frozen joint ventures with Russian oil group Rosneft (ROSN.MM) following sanctions imposed in 2014, also has long-term take-or-pay gas contracts with Gazprom.

On Tuesday, the United States banned imports of Russian oil. Read more

Western sanctions have also targeted banks and billionaires, with the European Commission preparing new sanctions against other Russian oligarchs and politicians and three Belarusian banks, Reuters reported.

Citigroup (CN) said it was operating its Russian consumer business on a more limited basis while sticking to its franchise divestiture plans. Read more

Banks are likely to find it harder than many other businesses to exit Russia, experts predict, because it is difficult to evade loan commitments and other types of financial claims. Read more

Reporting by Praveen Menon in Wellington, Sam Nussey in Tokyo and other Reuters offices; Written by Sayantani Ghosh; edited by Richard Pullin

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