Ikea and Marks & Spencer have become the latest global brands to cease trading in Russia.
The Swedish furniture retailer said it would temporarily close its 17 stores in the country and pause the sourcing of materials from Russia and Belarus. M&S said it would suspend shipments to its 48 Russian outlets.
Russia is Ikea’s tenth biggest market, accounting for 4% of sales. M&S said its Russian operations represented about 1% of its business by value.
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