Home Commercial Rio Tinto ends commercial relations with Russian companies

Rio Tinto ends commercial relations with Russian companies

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The Rio Tinto logo is displayed on a visitor’s helmet at a borate mine in Boron, California, U.S., November 15, 2019. REUTERS/Patrick T. Fallon

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March 10 (Reuters) – Rio Tinto (RIO.L), (RIO.AX) became the latest company to cut ties with Moscow on Thursday, saying it was ending all business relations with Russian companies.

“Rio Tinto is in the process of terminating all business relationships it has with any Russian company,” a Rio spokesman said in a message to Reuters.

The Anglo-Australian company’s announcement comes after a senior executive said the company was looking for alternative fuel sources for its Mongolian copper operations in Oyu Tolgoi, but did not believe it could stop buying from Russia altogether. . Read more

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The company did not immediately respond to questions about whether it would continue to purchase Russian fuel and other products through non-Russian third parties.

Russia has been hit by Western sanctions and the withdrawal of foreign companies since its invasion of Ukraine began on February 24. Russia describes its actions as a “special operation” to disarm its neighbor and dislodge leaders it calls “neo-Nazis”.

Major US companies like McDonald’s, PepsiCo, Coca-Cola and Starbucks stopped doing business with Russia this week, offering a united rebuke of the war on Ukraine. Read more

Earlier, Royal Dutch Shell Plc stopped buying oil from Russia and said it would completely cut ties with the country as the United States stepped up its campaign to punish Moscow by banning oil and gas imports. Russian energy.

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Reporting by Praveen Menon; Editing by Christopher Cushing and Michael Perry

Our standards: The Thomson Reuters Trust Principles.