Apple Exits From Russia

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Apple Exits From Russia

Apple Exits from Russia

The geopolitical tensions due to the Russia-Ukraine war have led to a fall in the stock prices of Apple. It is now a concern for investors how important is Russia for the iDevice maker. The selloff is basically due to macro-level forces instead of any reason from the Cupertino company.

Several countries have announced sanctions against Russia, which is now facing a financial meltdown. The native currency rubles has devalued against the USD. This is paving the path of trouble for companies and businesses operating in the country. Apple is one of the global companies being impacted with exits from Russia.

However, it is argued Apple may not be hurt severely as data of 2020 reveals the sales of Apple products in the country was less than 1 percent of the total annual sales.

Simultaneously, it cannot be ruled out that the supply chain could be disrupted if Russia becomes isolated economically from the world. It is a general assumption and not just for Apple, which though may not need to fear much if the data of 2020 is considered.

Apple has no supplier either in Russia or in Ukraine. Most suppliers are located in Japan, China and a couple of more Asian countries including Vietnam, South Korea and Taiwan.

The United States government announced late last year to ban the exports of smartphones to Russia. Simultaneously, the Ukrainian government urged Apple to stop supplying its products to the country.

The impact on Apple will be in a negligible amount and the fall in stock prices can be viewed as a buying opportunity for many investors.

Meanwhile, the United Kingdom has temporarily stopped super priority and priority visa services applications to Russia for family, work and study as well. The standard visa applications too may witness delayed processing.

The Visa department said they are not offering visitor's priority visa services applications in Nigeria. The current duration to process standard visa applications is about six weeks.

Earlier, the British prime minister said Ukrainian refugees need to undergo security checks and visa conditions for them have been relaxed and the process has become fast.

Since the start of the Russian invasion of Ukraine on February 24, the United Kingdom has granted more than 950 visas to refugees from Ukraine. Poland has welcomed over 1.2 million citizens from the country.

Lately, Russia has banned Instagram to be accessed in the country over hatred posts against Russian citizens and military personnel.

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