United Parcel Service Inc. and FedEx Corp. are two of the biggest parcel delivery companies in the United States and the world. Due to the ongoing Russian invasion of Ukraine, they have halted their services in Russia and Ukraine.
UPS and FedEx's announcement of service suspension came after the Russian troops advanced to the second largest city of Ukraine. On top of this, President Vladimir Putin also ordered his nuclear forces to be on high alert, which prompted countries to hand down more sanctions against Moscow.
With the latest developments in the escalating war and things are getting more dangerous, the shipping giants made the decision to stop their operations in the said countries. According to Reuters, UPS and FedEx's inbound and outbound services to Ukraine have been halted. The companies will also stop all deliveries to any locations in Russia.
As for DHL, a German logistics company that offers the same kind of services like FedEx and UPS, it was revealed to have also stopped shipments to and from Ukraine. But while it will not be servicing Ukraine for now, it was not mentioned if it also suspended its operations in Russia.
Apparently, the shipping companies are taking steps and carrying out contingency plans for their business in the countries that are currently in crisis. The Wall Street Journal reported that all packages and shipments that are already on their way to Russia and Ukraine will be returned to the sender for free whenever possible.
"Our focus is on the safety of our people, providing continued service and minimizing disruption to our customers," UPS' website's service alert notice reads. "UPS continues to closely monitor the situation and will re-establish service as soon as it is practical and safe to do so."
FedEx also posted a similar notice about the service interruption and said that the company is "closely monitoring the situation and have contingency plans in place. Meanwhile, the United States and its EU allies are imposing sanctions in an attempt to stop Russia from its invasion attacks on Ukraine. The past weekend, they have pulled out some Russian banks from the international SWIFT messaging system, so they cannot carry out financial transactions.


J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures
Global Markets Tumble as US-Iran Tensions Escalate, Oil Surges
NVIDIA's Feynman AI Chip May Face Redesign Amid TSMC Capacity Crunch
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil
Asian Markets Mixed as Oil Volatility and Inflation Fears Weigh on Sentiment
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month
Air Canada Express Plane Collides with Ground Vehicle at LaGuardia Airport
Federal Reserve Crisis: DOJ Standoff Threatens Powell's Succession and Rate Stability
Jeff Bezos Eyes $100 Billion Fund to Transform Manufacturing With AI
Global Markets Reel as Middle East Tensions Escalate Energy Fears
FCC Approves $3.54B Nexstar-Tegna Merger, Waiving Broadcast Ownership Cap
Amazon's "Transformer" Phone: Can It Succeed Where Fire Phone Failed?
Japan Eyes Reduction in Inflation-Linked Bond Buybacks Amid Surging Investor Demand
Gold Prices Drop Amid Inflation Fears and U.S.-Iran Escalation
Goldman Sachs Raises Oil Price Forecasts Amid Strait of Hormuz Disruptions
U.S. Markets Post Fourth Straight Weekly Loss Amid Middle East Escalation
Tesla FSD EU Approval Delayed to April 10 as RDW Completes Final Review 



