Aecom has said it is pulling out of Russia with immediate effect and expects to take a $50m (£38m) hit as a result.

The consultant, which last year had a global revenue of $13.3bn (£10bn), has two offices in the country – in the capital Moscow and St Petersburg – from which it employs around 350 people.

In a statement, Aecom chief executive Troy Rudd said: “We support the people of Ukraine who are facing tremendous suffering as a result of Russia’s unlawful invasion.

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