Universal Pictures will close its office in Russia

Universal Pictures will close its office in Russia. This is reported by the official Telegram channel of the Bulletin of the Film Distributor magazine, citing a source in the company.

He confirmed the information about the final withdrawal from the country. As noted in a message that Universal previously sent to a number of theaters, the company's operations will be curtailed within a few months.

"The parent company of Universal Pictures has decided to cease operations in the Russian Federation, as it has become impossible to conduct business due to the many difficulties faced by foreign companies."

Russian offices of other Hollywood companies continue their work. In particular, the local division of Disney told the publication that the work of the office was suspended, but it was not closed. In March, Universal, Warner Bros., Disney, Sony, and Paramount announced a temporary suspension of the distribution of their films in Russia; major Western premieres are no longer shown in domestic cinemas. However, in May, the Russian authorities began preparing a bill that, through "compulsory licensing", would allow the preservation of films, series, music and other content of companies from "unfriendly countries" that had left Russia.

Since the beginning of the war in Ukraine, almost 1,000 foreign companies have announced restrictions or termination of work on the Russian market. A list of such companies is maintained by a group of Yale employees led by Jeffrey Sonnenfeld, founder of the Yale Institute of Executive Management.

Due to the withdrawal of foreign companies from Russia, about 200,000 people could be left without work in Moscow alone, the mayor of the capital, Sergei Sobyanin, said in April. He suggested using this new army of unemployed for public works, such as parks. About what the withdrawal of foreign companies from the Russian market can lead to and what awaits the Russian economy this year, The Insider wrote here .

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