Jacob Gronholt Pedersen, Yadarisa Shahong

(Reuters) – A Danish brewer Carlsberg and a Coca-Cola bottler closed their Ukrainian plants on Thursday after Russia invaded. Global logistics companies UPS and FedEx Corp (NYSE) also suspended service in the country.

Ukraine shut down its airspace after Russian forces invaded in the early hours. Wizz Air, a budget airline, tried to evacuate crew members from Ukraine, as well as their families, and four aircraft that were stuck in Kyiv/Lviv.

Companies that have been exposed to Russia now wait for clarification about the extent of Western sanctions. Washington, London, Brussels and London are set to share more details Thursday following Moscow’s invasion of Ukraine by land, air, and sea.

Washington already imposed sanctions against the Nord Stream 2 pipeline company, and Chief of European Commission Ursula von der Leyen stated that Brussels will block Russian access key technology and markets.

Carlsberg suspended production in all three of Ukraine’s breweries. Coca-Cola HBC claimed it had activated contingency planning, which includes closing its bottling plants.

Maersk, a global shipping company that includes the largest international cargo forwarder DSV, announced it has closed all operations in Ukraine.

Flemming Ole Nielsen, DSV’s Head of Investor Relations, explained that “all air traffic has stopped” and added that there were new sanctions likely to impact Eastern European trade.

Europe’s aviation regulator expanded the safety warning that was triggered by this attack. It advised airlines to “exercise care” while flying in Russian airspace under control of regional centers in Moscow and Rostov.

TITANIUM AND NEON

On Thursday, shares in German utility Uniper plunged. Uniper has significant Russian interests and a $1B exposure to Nord Stream 2. Its controlling shareholder, Finland’s Fortum took a knock.

Fortum stated that the companies owned 12 Russian power plants and had employed 7,000 workers there. However, because they were not authorized to produce energy, Fortum did not say if their operations would be directly affected.

Wintershall Dea was another financial backer of Nord Stream 2. He said that the fact that the project had been suspended for political reasons meant the operator could sue to get compensation.

German chemical giant BASF shares, co-owned by Russian billionaire Mikhail Fridman’s LetterOne investor group and Wintershall, fell 6%. Other Nord Stream 2 backers OMV or Engie also suffered.

Lloyds (LON), Britain’s most important domestic bank, warned it would be on alert for Russian cyberattacks. Meanwhile, companies that make products ranging from semiconductors to jet engines warned they could lose key raw material.

Jet engine makers Rolls-Royce (OTC:) and Safran (PA: Both companies said that they were increasing their titanium supplies as Western aerospace firms prepare for the fallout of Ukraine’s crisis.

Although titanium, much of which is supplied by Russia has been in use in jet engines since the 1930s, its usage has increased in recent years, as planemakers strive to make them lighter.

Olivier Andries, chief executive of Safran, stated that he had been monitoring the situation closely for several weeks. He also said that he decided to boost his stocks of titanium through German distributors.

French companies are also trying to diversify their metal sources, just like Britain’s Rolls-Royce which claimed that 20% of its Titanium came from Russia.

Although large-sized chip companies stated that they expect minimal disruption to their supply chains due to the conflict, due stockpiling, diversified procurement and diversification, industry sources indicated there might be longer-term effects.

The U.S. supplies over 90% of its semiconductor-grade neon from Ukraine. This is crucial for chipmaking lasers. Techcet Market Research firm claims that the gas comes from Russian steel fabrication and is processed in Ukraine.