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Ukraine war

Honda and Mazda to halt exports to Russia

Growing wave of companies reconsider business in sanctions-hit country

Japanese automakers Honda and Mazda will suspend some business in Russia following that country's invasion of Ukraine. (Source photos by Reuters)

TOKYO -- Honda Motor will stop exporting cars, motorcycles and other products to Russia, while Mazda Motor is suspending shipments of auto parts to its plant in the country, Nikkei has learned.

As more companies announce their compliance with economic sanctions imposed on Moscow by the U.S., Europe and Japan in the wake of its invasion of Ukraine, the business environment in Russia is rapidly deteriorating, its currency is fast losing value and its logistics network becoming fragmented.

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