The owner of Zara, Massimo Dutti and Pull&Bear announced the suspension of work in Russia

The Spanish company Inditex, which owns such large chains as Zara, Massimo Dutti, Pull & Bear and Bershka, has suspended work in Russia, Reuters reports citing its statement.

“Under the current circumstances, Inditex cannot guarantee the continuity of operations and commercial conditions in the Russian Federation and is temporarily suspending its activities,” it says.

In Russia, Inditex has 502 stores, of which 86 are of the Zara brand. Russia accounts for about 8.5% of the group's earnings before interest and taxes, but the total investment in the country, given that all premises are leased, "is not financially significant," the company emphasizes (quoted by Bloomberg ) .

• Earlier, sales in Russia were stopped by Europe's largest clothing retail chain H&M, as well as Mango. British retailer Marks & Spencer (M&S) has also suspended shipments to Russian stores operated by a Turkish franchisee.