Sportswear giant Nike has announced plans to permanently shut down its business ventures in Russia over the country’s ongoing invasion of Ukraine.
In an emailed statement to CNBC on Thursday, the company confirmed its plans to leave Russia, saying its main priority is to support employees in the country in the coming months.
The Beavertown, Ore., company announced in March, just days after Moscow began its invasion of Ukraine, that it would temporarily suspend business in Russia.
“NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months,” it said in a statement.
Reuters reported that other sportswear firms, such as Puma, Reebok and Adidas, had also suspended their businesses in Russia.
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