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.