Caterpillar, Deere Join Firms Suspending Business in Russia
- Deere halts farm equipment shipments to Russia, Belarus
- Caterpillar suspends operations at factories in Russia
Deere & Co. combine harvester
Photographer: Paul Frangipane/BloombergThis article is for subscribers only.
Two of the world’s largest manufacturers of machinery equipment needed for everything from farms to construction sites said they suspended business in Russia following the nation’s invasion of Ukraine, further isolating the country from the global economy.
Deere & Co. said it halted shipments of machines to Russia two weeks ago as the nation invaded Ukraine, and subsequently stopped deliveries to Belarus. Caterpillar Inc. said it suspended operations at its plants in Russia as doing business in the country has become increasingly challenging due to factors including supply chain disruptions and sanctions.