Sony Music Group became the first major recording studio to announce its complete withdrawal from the Russian market. This comes six months after the decision to halt operations here amid Russia's full-scale invasion of Ukraine, Billboard reports..

In a message provided to the publication, Sony Music Group stated that it "

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According to sources of the publication, the Russian division, together with employees, will go under the local management company, which was founded by the ex-director of Sony Music Russia Arina Dmitrieva. It is noted that the company will be completely independent from Sony Music and will only represent local musicians..

The rights to songs by foreign artists are not included in the terms of the deal, so they will have to be removed from Russian streaming services..

Recall, the European Union approved the seventh package of sanctions against Russia due to its invasion of Ukraine.

It provides for a ban on the import of Russian gold, as well as an expansion of the list of dual-use goods and technologies prohibited for export to the Russian Federation.. It also provides for the expansion of sanctions against individuals and legal entities close to the Kremlin and Russian President Vladimir Putin..

Head of the EU Delegation to Ukraine Matti Maasikas is confident that the EU will develop the next, eighth, package of sanctions against Russia due to its invasion of Ukraine.