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In addition, Reuters reports that the world’s three largest container shipping lines which include MSC, Maersk, and CMA CGM — have suspended all shipments to and from Russia.
Retail companies such as Apple, Nike, and Victoria’s Secret have also have introduced merchandise shipping and sales bans. Large eCommerce clothing retailer Asos announced last week it would stop shipments to Russia.
The war signals a huge economic downturn for Russia’s eCommerce, but what about the rest of the world?
In an amazing show of solidarity, thousands of people from countries all over the world purchased AirBnB rentals in Ukraine with no intention of going, but as a way to offer aid directly to the Ukrainian people. According to Forbes, AirBnB’s CEO tweeted
“In 48 hours, 61,402 nights have been booked in Ukraine. That’s $1.9M going to hosts in need,” he wrote. “Such a cool idea from our community. Thank you.”
Lastly, eBay offered to protect Ukrainian seller performance ratings as well as pause sales to buyers located in Russia or Ukraine.
But despite the positive sentiment and efforts, the economic situation in Ukraine is dire.
This digital source reports that Ukrainian eCommerce sales dropped 96% after Russia invaded Ukrainian territory.
But across all platforms, from eBay to Etsy sellers increased their sales of Ukrainian-related goods by 338%.
Global shipping giant Maersk closed its port in Ukraine, and lastly, Ukraine supplies more than 90% of the semiconductor-grade neon, for the United States. This neon is used for lasers used in chipmaking. Those exports will also cease.