(Bloomberg) — Honda Motor Co. is halting exports of cars and motorcycles to Russia, joining a growing number of global companies choosing not to do business in the country after its invasion of Ukraine.
The Japanese carmaker made the decision due to challenges around distribution and finances, Misako Saka, a spokeswoman for Honda, said. It will resume shipments once the situation returns to normal, she added.
Apple Inc. and Nike Inc. both announced plans Tuesday to halt product sales in Russia, joining Exxon Mobil Corp. while United Airlines Holdings Inc. said it will stop flying over Russia for its daily flights to India. From concerns over human rights to logistical snarls, companies across the globe are withdrawing from the Russian market after its invasion of neighboring Ukraine.
Mazda Motor Corp. is also suspending shipments of parts to a plant in Russia, the Nikkei newspaper reported.
Read more: Foreign Companies From Shell to Daimler Abandon Russia
NHK reported earlier on Honda’s halt, citing complications with its distribution networks because of the war, and concerns over its ability to settle and collect payments because of the sanctions against Russia.
While Honda doesn’t have a factory in Russia, it exports about 1,500 SUVs annually to the country from plants in the U.S., NHK said.
(Updates with Honda confirmation, Mazda report.)
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