BMW, Michelin hit by supply-chain disruption, Publicis cedes control in Russia

The list of Western companies that have suspended operations

Michelin and BMW were among the latest companies on Wednesday to warn of disruption to their operations from Russia's invasion of Ukraine, while ad group Publicis said it had ceded control of its Russian business to protect its staff.

The list of Western companies that have suspended operations or pulled out of Russia is growing by the day after the West imposed sanctions aimed at curbing Moscow's access to funding.

Qazet.az reports that German automaker BMW joined other carmakers in detailing the impact of the unfolding crisis in Ukraine on its operations on Wednesday as it downgraded its profit margin forecast.

Russia's invasion of Ukraine and COVID-19 related disruptions in China have forced carmakers from Toyota (7203.T) to Tesla (TSLA.O) to shutter plants and raise prices, with many warning of further pain if circumstances do not stabilise.