Netflix has put future projects in Russia on hold

Streaming behemoth Netflix has announced a halt to all future Russian projects and acquisitions.

The company stated that it was assessing the impact of Ukraine’s current invasion. The production of the Russian language series Zato will be halted. Oracle, a cloud computing company, has also announced the suspension of its operations in Russia. The two companies are the most recent US technology firms to take action against Russia as the number of attacks on Ukrainian cities has increased.

Apple also announced on Tuesday that it would suspend sales in Russia. Oracle’s Twitter announcement came three hours after Ukraine’s Minister of Digital Transformation tweeted the company, requesting assistance. In recent days, global brands such as Shell, Nike, H&M, and Boeing have severed ties with Russia or temporarily suspended sales.

Moscow has responded to foreign companies withdrawing from Russia by temporarily restricting foreign asset sales in Russia.

On Wednesday, President Vladimir Putin met with the president of the Russian Union of Industrialists and Entrepreneurs to discuss how the Russian Union of Industrialists and Entrepreneurs would attempt to mitigate the impact of the sanctions announced thus far.

Netflix declined to comment on the number of people who use its streaming service in Russia.

However, it confirmed earlier this week in a Hollywood Reporter report that it would not carry Russian state channels.

“Given the current situation, we have no plans to add these channels to our service,” said a Netflix spokesperson in a statement to the magazine.

According to a law that took effect on March 1, “audiovisual services” in the country with more than 100,000 users will be required to carry 20 major state television channels.

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