Ford suspends operations in Russia

Ford is suspending its operations in Russia due to the invasion of Ukraine, the automaker announced Tuesday.

Driving the news: The company said in a statement that it "informed our JV partners" on Tuesday that it was suspending operations, "effective immediately, until further notice."

• The Ford Fund will make a $100,000 donation to the Global Giving Ukraine Relief Fund that assists Ukrainian refugees, per the statement.

What they're saying: Ford noted it has "significantly wound down" its Russian operations, which "now focus exclusively on commercial van manufacturing and Russian sales" via a 50% stake in the Sollers Ford joint venture.

• "While we don't have significant operations in Ukraine, we do have a strong contingent of Ukrainian nationals working for Ford around the world," Ford said.

The big picture: Ford is the latest major U.S. brand to take action against Russia since President Vladimir Putin ordered the unprovoked invasion of Ukraine last Thursday.

• Others include Apple and Boeing.

Go deeper:

• Russia sends companies scrambling to reverse globalization
• Get the latest with the Ukraine-Russia dashboard