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Panasonic suspends trade with Russia

JAPAN: The Panasonic Group has decided to suspend transactions with Russia.

In a statement on the company’s corporate website, the Japanese multinational says that it had decided “in principle” to suspend transactions with Russia.

“We have been very concerned about the current situation in Ukraine and would like to express our deep condolences to all the victims. We hope that the world will return to peace and security as soon as possible,” the company says.

It also reveals that it had donated approximately JPY20m ($172,000) to the Polish Red Cross, which is supporting those who have evacuated to neighbouring Poland from Ukraine and to Peace Winds Japan, an NGO providing assistance to Ukraine.

“The Group will keep monitoring developments and provide humanitarian assistance where necessary,” it says.

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