Oligarchs Won't Be Able To Buy Ferraris And Lamborghinis In Russia Anymore

The carmakers join a growing list of companies condemning Russia's attack on Ukraine

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Ferrari and Lamborghini are taking a stand and making it a bit harder for Russian Oligarchs to buy their cars.

Reuters reports the companies are suspending business in Russia amid the country’s invasion of Ukraine. Ferrari is also donating 1 million euros to support Ukrainian citizens in need due to the crisis.

“Given the ongoing situation Ferrari has taken the decision to suspend the production of vehicles for the Russian market until further notice,” the Italian company said in a statement.

“We continue to monitor the situation closely and will always respect all rules, regulations and sanctions,” it said.

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Lamborghini made a similar statement Tuesday and expressed condolences to the victims of the invasion, saying it plans to send a donation to the United Nations High Commissioner for Refugees, which is the U.N.’s refugee agency.

Both these companies have followed in the footsteps of most other major auto manufacturers and many of the world’s largest companies that have either halted sales or suspended operations completely in Russia over their invasion of Ukraine.

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The news also comes a day after President Joe Biden announced the U.S. would be suspending the import of Russian oil and natural gas. It’s all in an effort to voice outrage and carry out sanctions against the country.

Ferrari and Lamborghini represent a rather small market share in Russia’s car landscape, but it’s still a big move. Consider how many oligarchs there are in Russia that have at least a few of each of these brand’s cars. That will sure tick them off a bit.

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That being said, most of the people with the means to buy these cars can probably just do it in another country and have it imported – but it’s probably not a super easy feat to accomplish right now. So again, good on the manufacturers.