Moscow: Russia’s move to impose sanctions on Russia for invading Ukraine. Russia has decided to ban the export of 200 items, including cars and auto parts.
Russia’s decision could put automakers at a greater risk. Russia’s decision could affect the auto industry around the world, according to reports. It is learned that the export ban will continue till the end of this year. Items removed from Russia’s export list include vehicles, telecom, medical, agricultural, electrical equipment, and timber.
Moscow has said in a statement on Thursday that it “has suspended the export of a wide range of products to areas where hostilities are taking place against Russia.” Several carmakers have decided to shut down in Russia following the escalation of the conflict last month.
Carmakers such as Honda, Toyota, Volkswagen, General Motors, Jaguar, Land Rover, and Mercedes-Benz have all been shut down. Ford and BMW not only suspended their operations but also exported their vehicles to the country.
Stellaris, a group owned by brands such as Jeep, Fiat, and Peugeot, also decided to close on Thursday. The company said it had suspended imports and exports of cars to Russia.
