Ukraine: Italian luxury carmakers Ferrari and Lamborghini stop exports to Russia

Ferrari donates €1 million to help welcome Ukrainian refugees to Italy.

Italian luxury sports car maker Ferrari has suspended production for the Russian market "until further notice" due to the invasion of Ukraine, the company announced on Tuesday.

“Ferrari stands alongside everyone in Ukraine affected by this ongoing humanitarian crisis”, stated Ferrari CEO Benedetto Vigna, adding: "We cannot remain indifferent to the suffering of everyone affected."

The company has also donated €1 million to support Ukrainians refugees coming to Italy's northern Emilia-Romagna region, the home of Ferrari, with the funds going towards humanitarian projects overseen by the Red Cross and UNHCR.

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Another Italian luxury sports car manufacturer, Lamborghini, announced on Tuesday that it has put all business with Russia "on hold" due to the war in Ukraine.

Lamborghini expressed its deep sadness over the conflict in Ukraine and said it is observing the situation "with grave concern" amid "hopes for a swift end to hostilities and a return to diplomacy."

The company also announced that it is preparing to make an unspecified donation to UN Refugee Aid in Ukraine.