(Reuters) – Netflix Inc has temporarily stopped all future projects and acquisitions in Russia amid its invasion of Ukraine, Variety reported on Wednesday.
Russia has been facing boycott in the film and TV industry. The Cannes film festival issued a statement on Tuesday saying it would ban official Russian delegations from its 2022 festival unless the Ukraine conflict ends.
Netflix was assessing the impact of current events, Variety said, adding the streaming giant has four Russian originals in the pipeline for production.
Netflix did not immediately respond to a Reuters request for comment.
Earlier this week, Netflix said that in the current circumstances it has no plans to add state-run channels to its Russian service, despite a regulation that would require it to distribute state-backed channels.
Russia is one of the 190 countries where Netflix is available.N2V33IS]
(Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini Ganguli)
