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GE, New Balance Limiting Business With Russia

BOSTON (CBS) -- Several big corporations are cutting ties with Russia in response to the war in Ukraine. Starbucks, Coca-Cola and Pepsi all announced they were pulling out of the country Tuesday, and McDonald's has closed its restaurants there. Now two Boston-based businesses are taking action as well.

General Electric is partially suspending operations in Russia. There are two exceptions - essential medical equipment and support for existing power services in the region.

GE also announced it is making a $4.5 million donation to relief efforts in Ukraine and surrounding countries.

And New Balance is suspending product shipments to Russia. The shoemaker is also donating $1 million to humanitarian relief in Ukraine, including money for evacuations, food water and shelter.


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