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Swedish H&M Group suspended sales in Russia

The Swedish company H&M Group has announced that it is temporarily suspending sales in Russia. This is stated on the H&M website.

"H&M Group is deeply concerned about the tragic events in Ukraine and supports all the people who have been affected. H&M Group has decided to temporarily suspend all sales in Russia," the company said.

She noted that the final closure of stores is not yet discussed.

Ukrainian H&M Group stores are also closed due to hostilities.

H&M (Hennes & Mauritz) is Europe's largest clothing retail chain. The company was founded in 1947 and has over 4,700 stores in 69 countries, including a franchise. The number of employees is more than 171,000 people. In Ukraine, H&M stores operated in Kyiv, Kharkov, Odessa and Lvov.

Over the past few days, dozens of companies have already been notified about the termination of activities in Russia. Among them are the largest oil and gas concerns Shell, BP, Equinor, ExxonMobil, electronics manufacturers Apple, Intel, AMD and Dell, courier services FedEx, UPS and DHL, numerous car and aircraft manufacturers, including Boeing and Airbus.

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