Accenture discontinues business in Russia

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Accenture is discontinuing its business in Russia, making it the first company with advertising and digital services to do so. The company said it stands with the people of Ukraine and the governments, companies and individuals around the world calling for the immediate end to the "unlawful and horrific attack on the people of Ukraine and their freedom".

"We thank our nearly 2,300 colleagues in Russia for their dedication and service to Accenture over the years. We will be providing support to our Russian colleagues," it said. While Accenture does not have a business in Ukraine, the company will continue its efforts to help its Ukrainian colleagues working around the globe at Accenture and their extended families. Accenture is offering telehealth for those in Ukraine and helping resettle family members who leave Ukraine.

It is donating US$5 million to nonprofit relief organisations working to help people in Ukraine and those who are being displaced into Poland, Romania, Slovakia, Hungary and the Czech Republic. Additionally, Accenture is matching 100% of the donations from our people.

Excluding Russia, Accenture has offices in 49 locations including Singapore, Malaysia, Indonesia, and China. Accenture joins a running list of companies that have taken a stand against Russia's recent invasion of Ukraine, including Nike, IKEA, Apple, Alphabet, Meta, Microsoft, Twitter, and Snap.

On Thursday, Google halted the sale of online advertising in Russia, Reuters reported, with the move covering search, YouTube, and outside publishing partners. It follows in the footsteps of Snap and Twitter which have also halted ads in Russia and Ukraine. Google's parent company Alphabet also recently banned RT and other channels from monetising their ads on Google’s websites, apps, and YouTube videos. Similarly, Meta prohibited ads from Russian state media and is demonetising the accounts of Russian state media. Additionally, Microsoft banned all ads from RT and Sputnik across its ad network and will not place any ads from its network on those sites.

Recently, the US imposed sanctions and visa restrictions on eight Russian elites with ties to Russian president Vladimir Putin. According to The Wall Street Journal, this includes Putin’s spokesperson Dmitry Peskov. It is also imposing visa restrictions on 19 Russian oligarchs and 47 of their family members and close associates, WSJ added. Additionally, full blocking sanctions will also be imposed on seven Russian entities accused by the US of spreading disinformation, along with 26 individuals associated with those groups.

The European Union also hit back at Russia with several sanctions, Reuters said, including a ban on the export of specific refining technologies to Russia from Europe. According to Reuters, this will make it more expensive and harder for Russia to modernise its oil refineries.

Just yesterday, Russia advanced into southern Ukraine as negotiators from both countries agreed to establish “humanitarian corridors” to allow civilians to flee. Cease-fire talks, however, did not reach an agreement, WSJ said.

Photo courtesy: 123RF

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