Netflix has temporarily stopped all future projects and acquisitions in Russia.
This follows Russia’s invasion of Ukraine, a source close to the matter confirmed the new development.
This means Netflix’s four Russian-language series in production and post-production has now been suspended temporarily.
Netflix has also imposed several other sanctions on Russia including the decision not to add state-run channels to its Russian service. Netflix’s decision violates a regulation that requires the company to distribute state-backed channels.
Netflix’s actions, therefore, add to the list of sanctions taken by the film and tv industry to note its displeasure towards Russia’s actions.
In a statement issued on Tuesday, the Cannes film festival stated that it would ban official Russian delegates from its 2022 festival unless the country stops the ongoing war in Ukraine.
Other platforms like Spotify, Google, Apple, PayPal are also issuing decisive sanctions against Russia. This is done with the hope that Russia end its activities in Ukraine.