United Parcel Service Inc. and FedEx Corp. are two of the biggest parcel delivery companies in the United States and the world. Due to the ongoing Russian invasion of Ukraine, they have halted their services in Russia and Ukraine.
UPS and FedEx's announcement of service suspension came after the Russian troops advanced to the second largest city of Ukraine. On top of this, President Vladimir Putin also ordered his nuclear forces to be on high alert, which prompted countries to hand down more sanctions against Moscow.
With the latest developments in the escalating war and things are getting more dangerous, the shipping giants made the decision to stop their operations in the said countries. According to Reuters, UPS and FedEx's inbound and outbound services to Ukraine have been halted. The companies will also stop all deliveries to any locations in Russia.
As for DHL, a German logistics company that offers the same kind of services like FedEx and UPS, it was revealed to have also stopped shipments to and from Ukraine. But while it will not be servicing Ukraine for now, it was not mentioned if it also suspended its operations in Russia.
Apparently, the shipping companies are taking steps and carrying out contingency plans for their business in the countries that are currently in crisis. The Wall Street Journal reported that all packages and shipments that are already on their way to Russia and Ukraine will be returned to the sender for free whenever possible.
"Our focus is on the safety of our people, providing continued service and minimizing disruption to our customers," UPS' website's service alert notice reads. "UPS continues to closely monitor the situation and will re-establish service as soon as it is practical and safe to do so."
FedEx also posted a similar notice about the service interruption and said that the company is "closely monitoring the situation and have contingency plans in place. Meanwhile, the United States and its EU allies are imposing sanctions in an attempt to stop Russia from its invasion attacks on Ukraine. The past weekend, they have pulled out some Russian banks from the international SWIFT messaging system, so they cannot carry out financial transactions.


Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 



