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Ukraine war

Southeast Asian companies brace for impact from Ukraine invasion

From Phuket tourism to food prices, Russian sanctions expected to hit hard

A wheat field near Kyiv. Ukraine and Russia are both major producers of grains and vegetable oil.   © Reuters

BANGKOK/HANOI -- Businesses across Southeast Asia have begun feeling the pain from Russia's invasion of Ukraine, forcing them to re-examine their approaches in a variety of sectors spanning agriculture to tourism.

Thailand's Charoen Pokphand Foods is among those suffering a major blow. It signed an agreement in August 2021 to acquire two Russian swine businesses for a combined 22 billion rubles, equal to about $300 million at the time.

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