John Deere join firms suspending business in Russia
Deere said Ukraine and Russia account for about 3% of its annual sales.
Two of the world’s largest manufacturers of machinery equipment needed for farms and construction sites said they suspended business in Russia following the nation’s invasion of Ukraine, further isolating the country from the global economy.
Deere & Co said it halted shipments of machines to Russia two weeks ago as the nation invaded Ukraine, and subsequently stopped deliveries to Belarus. Caterpillar said it suspended operations at its plants in Russia as doing business in the country has become increasingly challenging due to factors including supply chain disruptions and sanctions.
