Photo 108546463 © Kirill Makarov | Dreamstime.com
Photo 108546463 © Kirill Makarov | Dreamstime.com

Updated: Russia Invades Ukraine: Impact on US Businesses

March 17, 2022
Russia’s long-predicted invasion of its western neighbor began early on Feb. 24. The following roundup of coverage will be updated as more information becomes available.

Updated March 23, 2022, 9:30 a.m. (EST)

Russia attacked Ukraine from multiple fronts early Thursday, sending in troops, tanks, military aircraft, missiles and cyberattacks. U.S. and European governments responded by vowing to strengthen sanctions imposed early in the week as Russia prepared to invade.

The following are stories from various Endeavor Business Media (owner of IndustryWeek) publications, discussing aspects of the invasion and how they could impact businesses in the U.S.

Lighting Giant Calls for Peace

Austria's Zumtobel Group has ceased operations in Russia and its CEO is calling for peace in the region, LEDs Magazine reports.

'We Are Dying at Our Working Places, in Our Manufactories, at Our Homes'

Their countries may be at war, but electric utility engineers and technicians in Ukraine and Russia both are tasked with keeping the lights on. Ukrainian power employees are calling on that technical brotherhood, urging their Russian counterparts to do what they can to end the war, T&D World's Jeff Postelwait reports.

German Water Heater Manufacturer Donates to Ukrainian Relief

The Viesmann Group, a German company that makes residential and commercial water heaters and boilers, is donating $1.1 million (1 million Euros) to relief efforts. The company's offices and logistics center in Kiev were destroyed by Russian bombing, Contractor magazine reports. 

Cybersecurity Lessons from the Front Lines in Ukraine

  SecurityInfoWatch.com shares expert advice on what Ukraine is teaching us about hacking tactics.

Ams Osram raising funds for Ukraine, cutting off Russia and Belarus

Austria's Ams Osram, a giant in the lighting industry, is cutting off shipments to Russian and Belarus and matching employee donations to Ukrainian relief efforts, LEDs Magazine reports.

Ukrainian Official Calls Out Global Manufacturers Over Product Use in Russian Military Vehicles

Bosch, ZF say they've cut off Russian exports and never approved military use for their automotive products, but the Twitter and LinkedIn attacks drew a sharp response from social media users, IndustryWeek reports.

Manufacturers Worldwide Aiding Ukrainian Relief Efforts

Automakers and other manufacturing companies have donated millions to aid Ukraine as Russian missiles, bombs and mortar shells continue to fall on residential areas of Ukrainian cities, according to Power & Motion. 

US, Allies Plan to Cut Russia Normal Trade Status

Ratcheting up sanctions, the U.S. and its European partners have started the process of ending normal trade relations with Russia, further isolating the country from the global economic community, from IndustryWeek.

Plastics Machinery Company Sends Aid Workers to Poland

Updated March 17 with information about multiple plastics companies offering aid to Ukraine. UK-based Engel Ltd. sent two employees to Poland to help coordinate refugee services as more than 2.5 million Ukrainians have fled their country since the beginning of Russia's invasion, reports Plastics Machinery Manufacturing.

General Motors Building Joint Venture Battery Plant in Canada

Localizing supplies of electric vehicle battery components to North America through a joint venture with POSCO will let GM cut Russian nickel supplies out of its Ultium batteries eventually, EnergyTech reports.

Boeing Halts Titanium Buys from Russia

American Machinist reports that aviation giant Boeing has cut off sales from Russia's VSMPO-Avisma Corp., a mining firm that controls nearly 25% of the world’s titanium metal and alloys market.

3D Printer Makers Shun Russia

Companies making some of the world's most sophisticated additive manufacturing equipment are pledging to stop working in Russia until further notice, Plastics Machinery Manufacturing reports.

Coordinating Ukrainian Signage

LEDs Magazine reports that Signify, the world's largest lighting company, continues to work in Russia but that it is also working with Ukrainian relief agencies to identify lighting needs within the country.

Oil Surge Could Drive Plastics Costs Much Higher

Resins used to make plastics rely on oil, and further targeting Russia's economy could drive energy prices and plastics costs significantly higher, reports Plastics Machinery Manufacturing.

Expect More Cyberattacks

IndustryWeek Technology Editor Dennis Scimeca looks at the likelihood of further Russian cyberattacks on U.S. businesses and how companies can maintain a constant state of vigilance against constant threats of attack.

Moving Millions of Refugees

Mischa Wanek-Libman, executive editor of Mass Transit for Endeavor, details how subway systems, rail networks, bus lines and tour companies have helped refugees flee war-torn areas of Ukraine, detailing the logistical and human toll of Russia's invasion. 

Supply Chains Under Further Stress

"Ukraine is one of the foremost—yet often overlooked—components of both the European and global supply chains," freight procurement technology company CIO Oleg Yanchyk says in MH&L (Material Handling & Logistics). 

Understanding New Sanctions

In IndustryWeek, former federal attorney Seth DuCharme discusses the steps the Biden administration and international allies have taken against Russia and how those could impact companies that operate globally.

Shipping Giants Cancel Russian Deliveries, Ford suspends JV

As more nations add economic sanctions to Russia, doing business with the country is getting extremely difficult. IndustryWeek catalogs the latest global business closures.

Trucking Industry Faces Higher Costs

Russia's Invasion of Ukraine will likely exacerbate inflation, fuel costs and supply chain challenges already being faced by shipping and logistics companies. FleetOwner writers look into what's already happened and what could be coming next.

Global Shipping Snags

Regular IndustryWeek columnist Lauren Pittelli of Baker Logistics discusses what companies can do to mitigate the impacts of supply chain shortages caused by the war and sanctions against Russia and its allies. 

Selling Off Russian Investments

BP announced plans to sell off its main Russian holding as international sanctions are making it increasingly difficult to do business with the country, following its invasion of Ukraine, reports Oil & Gas Journal.

Tech Export Ban

The U.S. Commerce Department banned exports of high-tech products to Russia in response to the invasion, a step intended to harm Russia's ability to produce tanks, airplanes and other military equipment, reports Lightwave. Five European countries are expected to roll out similar bans.

Energy Pricing

Russia supplies massive quantities of oil and natural gas to Europe, so between sanctions from Western nations and uncertainty over the impact of the invasion is driving energy prices significantly higher, reports the Oil & Gas Journal.

Security Challenge

Security Info Watch looks into how companies can get employees out of troubled regions and what steps businesses should take to prepare for geopolitical strife.

Sanctions

Germany on Tuesday halted certification of an $11 billion pipeline that was supposed to begin transporting natural gas from Russia to Germany later this year, a controversial project that would have allowed Russia to bypass Ukraine and other Eastern European countries. Oil & Gas Journal editors look into that economic sanction.

Cyberattacks

In recent conflicts, Russia has stepped up its use of cyberattacks on other countries, raising the possibility of non-military attacks on Ukraine and its allies—including U.S.-based companies. Endeavor’s Military+Aerospace Electronics’ editors discuss:

At Plastics Machinery Manufacturing, business experts discuss how companies can defend themselves against cyberattacks if Russia begins using that tool to attack targets outside of Ukraine.  

Supply Chain

IndustryWeek discusses the possible ramifications of Russia’s actions on the global supply chain.

Changing Strategies

Plastics Machinery & Manufacturing spoke to executives at FlexBlow, a Lithuanian company that makes blow-molding equipment. As a company near the conflict zone, it is reconsidering customer and supplier relationships.

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