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(Credit: Irina Grotkjaer)

Film

Disney set to pause all business in Russia

There have been multiple reports of severe economic sanctions on Russia in response to their invasion of Ukraine. When McDonald’s recently announced that they would shut down all their outlets in Russia, many citizens of the country flocked to the stores to stock up on burgers while other companies such as Microsoft and Apple also stopped sales.

The latest to join this lineup is Disney, after the company announced that they would pause all operations in the country which will impact several domains of business. This announcement has come after other streaming giants such as Netflix also voiced their solidarity for Ukraine by taking measures to economically weaken Russia.

CEO Bob Chapek had been planning such measures for a while now and even made some comments earlier this month when he complained about the lack of action from the company. Chapek addressed the issue in an email that was sent out to staff members in which he criticised the purely performative act of just releasing a statement.

“As we have seen time and again, corporate statements do very little to change outcomes or minds,” Chapek wrote in the email. “Instead, they are often weaponised by one side or the other to further divide and inflame,” the CEO added. “Simply put, they can be counterproductive and undermine more effective ways to achieve change.”

Finally, the company has taken definite action by pausing business operations in the country as a protest against the war. “Some of those business activities we can and will pause immediately,” Disney said. “Others—such as linear channels and some content and product licensing—will take time given contractual complexities.”