Russian metals company Severstal said Wednesday it was halting deliveries in Europe after the EU imposed sanctions on its main shareholder, metals magnate Alexei Mordashov.

"We are redirecting the flows of raw materials to alternative world markets," Russian news agencies quoted the company as saying in a statement.

It said the decision to stop

Apple, ExxonMobil and Boeing announced Tuesday in rapid succession steps to withdraw or freeze business in Russia as more U.S. corporate giants take action after the Ukraine invasion.

The moves — in diverse industries and following earlier announcements by Disney, Ford, Mastercard and others — highlight the rising economic toll on Russia after its a

Russia's largest lender Sberbank said Wednesday it was leaving the European market after coming under pressure from Western sanctions levelled against the state bank in response to Moscow's invasion of Ukraine.

"In the current environment, Sberbank has decided to withdraw from the European market," the lender said in a statement carried by Russian

U.S. credit card giants Visa, Mastercard and American Express said they were blocking Russian banks from their payment networks following international sanctions in response to Moscow's invasion of Ukraine.

"As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network," Mastercard Chief