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Logistics Firms UPS And FedEx Suspends Operations In Russia And Ukraine


28/02/2022


Logistics Firms UPS And FedEx Suspends Operations In Russia And Ukraine
Two of the largest logistics companies of the world, United Parcel Service Inc which is based in the United States, and FedEx Corp anocuned on Monday that they would be stopping their delivery services to Russia and Ukraine because of the current conditions created by the invasion of Ukraine by Russia.
 
On the other hand, the German logistics company Deutsche Post DHL has also said that it had suspended shipments to and from Ukraine for a temporary period of time and was going past Ukraine air space as a part of its global operations.
 
UPS and FedEx said in online statements on Sunday that both the companies had suspended both inbound and outbound logistics and delivery services Ukraine, as well as deliveries to destinations in Russia.
 
Both Atlanta-based UPS and Memphis-headquartered FedEx had said on Feb. 24 that they were suspending services to Ukraine in light of the invasion.
 
None of the two companies however say anything about whether they were still using airspace over Russia as part of their general operations.
 
There were no further comments on the issue by neither of the companies.
 
The previous statement from DHL had also made no mention of any changes to its operations in Russia, and no further comment on the issue has been made by the company. 
 
On the other hand, the Swedish truck maker AB Volvo has also announced temporary suspension of its all of its production and sales operations in Russia because of the war in Ukraine, the company announced on Monday.
 
About 3 per cent of its global sales is generated by the Volvo Group from the Russian market and the company has one manufacturing unit in the country.
 
"We now have a bit more clarity on sanctions and security in the region... this means all operations in Russia end," a company spokesperson told Reuters, adding that the measures would apply until further notice.
 
Ukraine was invaded by Russian forces last Thursday, making the worst fears of the West come true. The current war is the worst attack on one country by another in Europe since the Second World War.
 
(Source:www,reuters.com)