SEOUL– South Korean tech giant LG Electronics Inc. said Sunday it has suspended shipments to Russia amid difficulties in global offshore logistics.
LG said in a statement that it is “suspending all shipments to Russia and will continue to keep a close watch on the situation as it unfolds.”
“We are deeply concerned for the health and safety of all people, and LG remains committed to supporting humanitarian relief efforts.”
The suspension came as the world’s major marine shippers, such as Hapag-Lloyd AG of Germany and Maersk of Denmark, have suspended their shipping services to Russia due to a fall in demand and global sanctions against Russia over its invasion of Ukraine.
LG’s home appliance and TV manufacturing factories in Ruza, a town west of Moscow, are still in operation, but the production may face difficulties if key parts run out, according to industry sources.
Earlier this month, South Korean tech behemoth Samsung Electronics Co. also suspended shipping to Russia, citing a similar reason.
Source: Yonhap News Agency