(WWJ) Ford Motor Co. is suspending its joint venture in Russia a result of Russia's invasion of Ukraine.
"As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia," Ford said, in a media release.
In recent years, Ford said it has has "significantly wound down" its Russian operations, which now focus exclusively on commercial van manufacturing and Russian sales through a minority interest in the Sollers Ford joint venture.
"Given the situation, we have today informed our JV partners that we are suspending our operations in Russia, effective immediately, until further notice," Ford said Tuesday.
Ford added that while the company does not have significant operations in Ukraine, "we do have a strong contingent of Ukrainian nationals working at Ford around the world, continue to support them through this time."
The automaker said the Ford Fund is also making a $100,000 donation to the Global Giving Ukraine Relief Fund for humanitarian aid to assist Ukrainian citizens and families who have been displaced during this crisis.
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