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First major Chinese company suspends business sales in Russia & Ukraine

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Chinese drone company, DJI halts sales in Russia and Ukraine amidst fears they could be used to cause harm

In a short statement, DJI says they will “temporarily suspend all business activities in Russia and Ukraine”.

Though some Chinese banks have halted financial dealings in Russia, DJI is the first major company to pause business operations in the region, despite the strong stance the Chinese government has had on avoiding criticism of the war.

A press release last week from DJI condemns the use of drones for military purposes, stating, “our products are made to improve people’s lives and benefit the world, and we absolutely deplore any use of our products to cause harm”.

“We will terminate our business relationship with [distributors, resellers, and other business partners] if they cannot adhere to this commitment.”

Analysts say the drone company wants to appear neutral in the war and believe paused operations by the world’s largest commercial drone-maker is unusual for a major Chinese company.

Speaking to Reuters, a DJI spokesperson says that “DJI abhors any use of our drones to cause harm, and we are temporarily suspending sales in these countries in order to help ensure no-one uses our drones in combat”.

DJI will continue to assess the use of their products in these regions and whether they have been used for military purposes.

China has sought to remain neutral on the conflict, calling for a peaceful solution. But it has yet to condemn the Russian invasion.

Last month, Ukraine’s Vice Prime Minister tweeted DJI to say: “Block your products that are helping Russia to kill the Ukrainians.”

An open letter attached to the tweet alleged that Russia was using DJI drones to help target missiles.

The company responded saying the products were only for civilian use.

Katerina Kostakos contributed to this report

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The art of technical analysis

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How can we master the art of technical analysis in the crypto space?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne unpacks technical analysis and how it can up your crypto game.

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Unpacking crypto ‘prop trading’

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What is crypto proprietary trading and how can it benefit you?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne sits down with Growth Partner at Crypto Calls, Jack Birkinshaw to talk all things prop trading.

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Crypto: the benefits of government regulation

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How can government regulation lead to greater trust and interest in cryptocurrency?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne discusses the benefit of increasing government regulation in crypto.

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