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Netflix pauses all projects and acquisitions in Russia

A television camera focuses on the Netflix Inc. company logo in this arranged photograph in London, U.K., on Tuesday, June 26, 2018. Addressing a room filled with New Delhis business elite earlier this year, Netflix Inc. Chief Executive Officer Reed Hastings offered a prediction: His companys next 100 million customers will come from India. Photographer: Chris Ratcliffe/Bloomberg

Netflix Inc has temporarily stopped all future projects and acquisitions in Russia as it assesses the impact of Moscow's invasion of Ukraine, a source familiar with the matter told Reuters on Wednesday.

The streaming giant had four Russian-language series in production and post-production, including “Zato”, a detective drama.

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.

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.

(Reporting by Chavi Mehta and Eva Mathews in Bengaluru; Editing by Shinjini Ganguli and Amy Caren Daniel)

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