Consumer goods giant Unilever to suspend its Russian imports, exports

The logo of Unilever is seen at the headquarters in Rotterdam
The logo of Unilever is seen at the headquarters in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw

March 8 (Reuters) - Unilever (ULVR.L) on Tuesday became the first major European food company to stop imports and exports out of Russia after the country's invasion of Ukraine.

Earlier in the day, Shell said it would stop buying Russian oil, even as Britain said it would ban imports of the commodity by gradually phasing them out during 2022. read more

Other major British consumer firms, including online fashion retailers ASOS (ASOS.L) and Boohoo (BOOH.L) as well as food & clothing retailer Marks & Spencer (MKS.L), have also shunned Russia or reduced exposure to the country.

The maker of Dove soap and Knorr soup said it would not invest any further in Russia and would also stop all media and advertising spend there, adding that its Ukrainian operations have also stopped.

Unilever also said it would continue to supply its everyday essential food and hygiene products made in Russia to people in the country, but would not take any profit from its Russian presence.

Reporting by Aby Jose Koilparambil in Bengaluru and Richa Naidu in London; Editing by Shailesh Kuber and Amy Caren Daniel

Our Standards: The Thomson Reuters Trust Principles.

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