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Netflix, KPMG, PwC, AMEX sever ties with Russia -Breaking


© Reuters. FILE PHOTO – The sun sinks behind Moscow’s International Business Centre (also known as Moskva-City), in Moscow, Russia, April 23, 2018. REUTERS/Anton Vaganov

By Akriti Sharma

(Reuters) – Netflix is a global streaming entertainment platform that features top accounting firms KPMG & PwC as well as financial services company Financial Services Firm. American Express As the conflict in Ukraine escalated, Russia cut all ties on Sunday.

On Sunday, fighting continued in the city of Mariupol to block efforts to evacuate more than 200,000 civilians. Russian President Vladimir Putin pledged to keep his offensive going.

According to a spokesperson, Netflix Inc (NASDAQ) suspended its Russian service. As it evaluated the effects of Moscow’s invasion on Ukraine, Netflix suspended all new projects and acquisitions in Russia earlier this week.

Netflix spokeswoman said that due to the current situation, Netflix had decided to suspend its service in Russia.

Following a few other Western companies such as a sneakers manufacturer, the announcements will be made on Sunday. Nike Inc (NYSE :), Sweden’s Ikea home furnishing retailer and Hermes Birkin bags maker in France, have both closed their shops or stopped operation due to supply and trade constraints.

Netflix stated that it did not intend to include state-run channels in its Russian service, even though it was required by regulation to do so.

American Express Co. (NYSE:) announced that it would suspend all Russian and Belarusian operations.

American Express stated in a statement posted on its website that it had suspended all Russian operations due to Russia’s continuing, unjustified attacks on Ukraine.

Two of the Big Four accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) said on Sunday they will no longer have a member firm in Russia due to the country’s invasion of Ukraine.

KPMG has announced the exit of its Russia and Belarus office from its network. The move will have repercussions on over 4,500 staff and partners in Russia and Belarus.

PwC Russia also agreed to leave the network. According to the company, PwC Russia has 3700 staff and 3,700 partners who have been in Russia since more than 30 year.

PwC announced that Russia would be the Network’s next member company after the Russian invasion.

TikTok is a Chinese video platform that was founded in 2012. It announced on Sunday it will suspend live streaming and upload of Russian videos as it examines the consequences of the new media law, which Putin signed Friday.

The social media giant stated that it had no other choice than to stop livestreaming, new content and video services while they review safety implications. https:// In a series Twitter (NYSE:) post, the company also said that in-app messaging will not be affected.

On Saturday, the U.S. government condemned the law. It could lead to up to 15 year imprisonment for those who spread fake news.

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