Canada’s biggest e-commerce company Shopify Inc will temporarily suspend Russian operations and stop collecting fees from Ukrainian merchants in the wake of the Russian invasion of Ukraine.
“For the foreseeable future, Shopify will not collect fees from our Ukrainian merchants and partners,” Shopify said in a statement late on Tuesday. “With millions of Ukrainian refugees in desperate need of support, we will contribute funds to provide humanitarian aid through our partner Flexport.”
Shopify joins a slew of Canadian and global companies, including McDonald’s and Starbucks, that has closed shop in Russia in recent days in response to the Ukraine aggression, reports Reuters.
“We will continue to monitor events on the ground as they evolve and comply with applicable sanctions as they are announced,” Shopify added.
Shopify lost its spot as Canada’s most valuable company in terms of market capitalization after a sharp drop in its share price this year.
