DUBLIN (From news reports) -- Irish packaging group Smurfit Kappa has become the latest business to announce that it is to exit the Russian market.
In a statement, the company said it stands in solidarity with the people of Ukraine and everyone impacted by the "totally unjustified attack on Ukraine and its people."
The firm said it had already suspended support for its Russian operations.
This includes any imports and exports, as well as any short or long-term funding.
"This exit will be effected in an orderly manner, during which we will continue to pay our employees and fulfil our legal obligations," it said.
The company has four operations in Russia listed on its website, including in Moscow and St Petersburg.
Meanwhile, MPs in Ukraine backed a bill to increase taxes on foreign companies in Ukraine by 50% if they continue to operate in Russia.
The Smurfit Kappa plants are used for manufacturing bag in box and corrugated packaging.
Collectively they employ around 800 people.
"Our Russian business represents less than 1% of forecasted sales," the company said.
The company said it is also assisting the families of its employees and contractors from Ukraine.
It is also providing products and services to support the relief effort together with financial assistance to a number of aid agencies.
"We have also partnered with the Red Cross to provide funding to support their vital work," it said.
The move is the latest by global and Irish companies who have decided to wind down their operations in Russia in response to the invasion of Ukraine.
Earlier this month CRH said it is to end its presence in Russia. Its operations make up a very small part of CRH's overall global business.
Firms have come under growing pressure from Governments, investors and shareholders to be seen to distance themselves from operating in Russia.
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