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Ikea, H&M pausing operations in Russia following invasion of Ukraine

EU Russia Ikea
Posted at 10:57 AM, Mar 03, 2022

Two Swedish companies are temporarily pausing their operations in Russia following its invasion of Ukraine.

On Wednesday, Ikea announced that it will pause all exporting and importing in and out of Russia and Belarus, pause all its IKEA Industry production operations in Russia, and pause all its IKEA Retail operations in Russia.

But the company added that they will keep its shopping center Mega open so "people in Russia have access to their daily needs and essentials such as food, groceries, and pharmacies."

Ikea said 15,000 of its employees will be affected by the shutdown, but the company said they'll continue to pay them.

"The devastating war in Ukraine is a human tragedy, and our deepest empathy and concerns are with the millions of people impacted," Ikea said in news release. "The immediate actions of Inter IKEA Group and Ingka Group have been to support the personal safety and security of IKEA co-workers and their families, and we will continue to do so."

Ikea also said it would donate $22 million for humanitarian aid "to those who have been forcibly displaced as a result of the conflict in Ukraine."

The clothing company H&M announced it was also pausing all sales in Russia, The New York Times and CNN reported.

According to CNN, they'll close 168 stores temporarily.