Russia Bans Car Exports, Stellantis And Hyundai Suspend Operations
Russia is retaliating against Western sanctions by enacting an export ban that includes more than 200 items and will last through the end of the year.
A detailed list wasn’t immediately available, but the state-owned TASS News Agency said the list includes technical, telecommunication and medical equipment as well as vehicles, agricultural machinery, locomotives, and railway cars. Other items include containers, turbines, metal and stone processing machines, monitors, projectors, consoles, and panels.
BBC News reports the export ban targets approximately 48 countries who the Russian government says has “committed unfriendly actions” against them. The government added the ban was “aimed at ensuring uninterrupted functioning of key sectors of the economy.”
The move already appears to be having an effect with Stellantis telling Carscoops in a statement that it has stopped importing and exporting vehicles from Russia. The company operates a plant in Kaluga and began exporting the Citroёn Jumpy, Peugeot Expert, and Opel Vivaro to Western European countries earlier this year. This is a blow for the automaker as Reuters previously reported Stellantis wanted to turn the Kaluga plant into an “export hub to supply engines and cars to Europe, Latin America and North Africa.”
Hyundai, which together with Kia operate manufacturing facilities in Russia, has also decided to suspend operations in the country.
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“Hyundai Motor Company is deeply concerned by the situation in Ukraine,” the automaker told Carscoops in a statement. “We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery. Safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible.
We’ll likely learn more about the impact of the ban in the coming days, but Russian officials have been threatening to nationalize the assets of companies that have pulled out of the country. They have also warned that returning to Russia will be difficult, although that hasn’t stopped the exodus.