What the economic boycott of Russia looked like by 28 March 2022
Two reports from the days before 28 March 2022 showed companies and governments reacting to moves against Russia's financial links.
What was happening to Russia's commercial ties as of 28 March 2022? Reports from the preceding days pointed to a widening boycott of Russia and Belarus, described as part of the economic impact of the Russian invasion of Ukraine.
On 23 March 2022, Nestlé announced that it would suspend sales of non-essential items in Russia. The move followed similar company boycotts of Russia.
On 25 March 2022, Iranian officials were reported to be considering recognition of the electronic payment system MIR. That consideration came in response to moves to ban Russian banks from SWIFT.
Together, the two reports showed pressure on Russia's economy coming from corporate decisions on one side and from discussion of alternative payment arrangements on the other.
