Vacation rental company Airbnb announced on Thursday that it has halted operations in Russia as sanctions from Western countries pile up against Moscow following the invasion of Ukraine.
Airbnb Chief Executive Brian Chesky tweeted the suspension, which also includes Russia’s ally Belarus. Major companies including General Motors, Boeing and Alphabet’s Google have also taken similar steps.
“People are booking Airbnbs in Ukraine where they don’t intend to stay just to help the hosts,” Chesky added, exemplifying a way foreigners have found to send financial support to Ukrainians.
Airbnb, which is recovering from a period of low business induced by the pandemic, has projected surprising results for the first quarter due to strong demand in the United States and longer stays from guests.
The company did not immediately respond to a request for additional details about the suspensions of operations in Russia and Belarus.
The company’s shares were down 2.7% around 12:00 pm (Brasilia time).
Airbnb said on Monday that its nonprofit arm will provide free, temporary housing for up to 100,000 refugees leaving Ukraine.
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