Intel Exits Russia Over Ukraine Invasion; 1,200 Employees Impacted

On Tuesday, American chipmaker Intel Corporation INTC announced that it had suspended business operations in Russia, joining a slew of companies that decided to exit the country amid the invasion of Ukraine by the Russian Army.

This came after it suspended shipments to customers in Russia as part of U.S. sanctions earlier this year alongside rivals Advanced Micro Devices, Inc. AMD and Nvidia Corp. NVDA.

"Intel continues to join the global community in condemning Russia's war against Ukraine and calling for a swift return to peace," the company said in a release.

"We are working to support all of our employees through this difficult situation, including our 1,200 employees in Russia. We have also implemented business continuity measures to minimize disruption to our global operations," it added.

Meanwhile, the Russia-Ukraine conflict has now clocked 42 days with no peace agreement in sight. U.S. President Joe Biden approved a $100 million transfer of Javelin anti-armour missiles to Ukraine on Tuesday. The transfer brings the total U.S. military assistance for Ukraine to $2.4 billion.

Reports also suggest that the United States and Europe are working on new sanctions against Russia over reports of committing mass killings of civilians in Ukraine's Bucha.

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