FedEx Halts Service in Russia, UPS Continues Local Delivery
(Bloomberg) -- FedEx Corp. has suspended all services in Russia and Belarus as fighting intensifies following the invasion of Ukraine, even as rival United Parcel Service Inc. continues Russian domestic deliveries.
FedEx earlier had suspended inbound service to Russia, but now has halted all package movements including domestic deliveries in both Russia and Belarus, according to an employee memo Friday. The company had also suspended services to Ukraine.
“We are deeply disturbed by what's happening, and our thoughts and solidarity are with the people affected by this ongoing violence,” the Memphis, Tennessee-based company said in the letter signed by Chief Executive Officer Fred Smith and Chief Operating Officer Raj Subramaniam.
UPS suspended all international service to and from Russia, Belarus and Ukraine in a Feb. 28 alert. The Atlanta-based company also dropped domestic service in Belarus and Ukraine, according to a UPS spokesperson, but continues to provide domestic service in Russia.
Shares of FedEx fell 3.3% amid broader market declines to $213.31 as of 12:09 p.m. in New York and UPS traded down 2% to $208.11.
©2022 Bloomberg L.P.
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