Giant brands suspend work in Russia.
As a result of the developments in Ukraine, many brands have stopped production for Russia and have closed their points there at least until the next announcement.
Vehicle manufacturers Ferrari and Lamborghini said they would not produce vehicles for the Russian market until further notice.
In a statement, Ferrari said it plans to donate 1m euros to support aid efforts for Ukrainian citizens.
Lamborghini said it “hopes for a speedy end to hostilities and a return to diplomacy.” She plans to make a donation to the United Nations High Commissioner for Refugees.
Switzerland’s largest watch brand, Rolex, also said on Tuesday it was banning exports to Russia.
They are among a host of high-end retailers – including Chanel, Louis Vuitton and Gucci – that have pulled out of the country in recent days.
Beverage giants Coca Cola and Pepsi have also cut ties with Russia.