UK welcomes Jaguar Land Rover decision to pause Russia exports
The UK government has said Jaguar Land Rover’s decision to suspend exports to Russia will help to isolate the country’s economy, after Britain’s largest carmaker said it would pause deliveries.
JLR is owned by India’s Tata but builds most of its cars in the UK. It said on Monday night it would pause deliveries to Russia because of “trading challenges” related to the “current global context”, without mentioning Russia’s invasion of Ukraine explicitly.
The UK business secretary, Kwasi Kwarteng, said JLR was one of “a rapidly growing number of companies and governments joining the whole international community in isolating Russia, both diplomatically and financially”, in a Twitter post on Tuesday.
<p lang=«en» dir=«ltr» xml:lang=«en»>I welcome Jaguar Land Rover's decision to pause the delivery of vehicles into the Russian market. There is now a rapidly growing number of companies and governments joining the whole international community in isolating Russia, both diplomatically and financially.Carmakers – along with companies across almost every industry – are scrambling to assess their exposure to Russia as the US, EU and UK work together to cut it off from the global economy via sanctions. While the movement of non-military cars or parts has not been blocked, several Russian banks are subject to blocking sanctions which could complicate cross-border trade.
The conflict has added yet another difficulty for the global car industry, which has been crippled by disruption over the last two years – to the point that JLR was forced to fly in crucial key fobs in suitcases at the start of pandemic. Production has been held back most notably in recent months by shortages of semiconductor computer chips.
Japanese carmaker Toyota suffered
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