The largest paper and cardboard packaging maker in Europe, Smurfit Kappa Group plc (LSE:SKG), has announced its exit from the Russian market and suspended support for its operations in the country.
The FTSE 100 company's Russian business represents less than 1% of sales, it said.
The packaging maker already suspended exports, imports, and funding in Russia at its four operations, joining a growing list of firms that have exited the country due to the Ukraine invasion.
As part of its exit strategy, the firm said it would continue to pay its employees and fulfill its legal obligations.
The company expressed solidarity with the people of Ukraine and everyone affected by the "totally unjustified attack on Ukraine and its people."
The shares fell 0.5% to 3,395p.