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Sylvamo's (NYSE:SLVM) Chairman and CEO Jean-Micale said, “We are suspending operations in Russia. We are appalled by the suffering and loss of lives in Ukraine, and we continue to hope for an immediate cease-fire agreement and diplomatic resolution.” The company is also pledges a $250K donation to the International Committee of the Red Cross to assist the people of Ukraine. The announcement does not imply that the company is initiating any bankruptcy or liquidation proceedings in Russia.