Microsoft Corp (NASDAQ:MSFT) suspended sales of products and services in Russia as it condemned the country’s invasion of Ukraine, Bloomberg reports.
Microsoft worked closely with governments of the U.S., European Union, and the U.K. and stopped multiple aspects of its business in Russia in compliance with coordinated sanctions rules.
Microsoft said its “single most impactful area of work almost certainly is the protection of Ukraine’s cybersecurity.”
Related Content: More US Companies Join In Restricting Products and Services In Russia
Microsoft agreed to help officials in Ukraine defend against Russian attacks, such as a recent one against a significant Ukrainian broadcaster. Earlier this week, Microsoft removed the news apps of Russia’s state-controlled news agency, RT, from its app store.
Analyst Opinion: Wedbush Securities analyst Dan Ives sees even more tech companies to “pull the plug on Russia by this weekend given the horrific atrocities seen coming out of Ukraine.”
Ives sees the pullback having a minimal impact on the U.S. tech industry, saying that a wholesale retreat would amount to a 1% to 2% hit to revenue even in a worst-case scenario.
“This is a move the Street would gladly applaud given the heartbreaking Ukraine invasion by Russia that is playing out in front of the world’s eyes,” Ives wrote.
Price Action: MSFT shares traded lower by 2.70% at $287.93 on the last check Friday.
