Nissan Motor Co has suspended production in Russia for the first half of the business year that began April 1 due to bleak prospects of the situation improving, according to its CEO Makoto Uchida.
According to a spokesman, Uchida believes the situation could get more serious and prolonged.
The manufacturer has informed the staff and will keep an eye on the situation to lessen its effects.
Nissan stopped exports and production in Russia in March following Russia's invasion of Ukraine, increasing logistical risk as Western countries applied a number of economic penalties.
The disclosure occurred at a time when businesses throughout the world are being urged to sever their ties with Russia.
The lowest percentage among the Group of Seven countries, only 2.4% of Japanese businesses operating there have done so since the invasion started on February 24.
Renault SA, a Nissan alliance partner, withdrew from Russia in May due to growing criticism of its presence there.


Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement
Italy Fines Apple €98.6 Million Over App Store Dominance
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries
Oil Prices Climb in Asian Trade as Venezuela Sanctions and Middle East Tensions Fuel Risk Premium
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 



