Following Universal lead, Paramount Pictures has also postponed the theatrical release of its upcoming movies in Russia. This was done in protest at the country actions that invaded Ukraine last week.

As we witness the ongoing tragedy in Ukraine, we have decided to stop the theatrical release of our upcoming movies in Russia, including The Lost City , and Sonic the Hedgehog 2 , a studio spokesperson said in a statement. Variety, Wednesday (2/3).

We support all those affected by the humanitarian crisis across Ukraine, Russia and our international markets and will continue to monitor the situation as this occurs.

In addition to Universal and Paramount Pictures, several other major Hollywood studios also boycotted including Disney and Warner Bros. They have officially stopped distribution of the movie to Russia for the time being.

In response to the ongoing humanitarian crisis in Ukraine, Universal Pictures has suspended its planned theatrical release in Russia, a Universal Pictures spokesperson said.

Earlier this week, Disney, Sony and Warner Bros. announced that they would not be releasing their new movies in Russian theaters such as Turning Red, Morbius , and The Batman . However, movies that have been released such as Uncharted from Sony and Death on the Nile from Disney will still be screened until the end of the agreed license period.

Russia is becoming a fairly lucrative market for studios. For example , Spider-Man: No Way Home made $44 million, and Venom: Let There Be Carnage earned $32 million in that country, making it the second-largest market for the movie after North America.

Across the entertainment industry, many are debating the prospect of releasing content in Russia amid the military invasion of Ukraine. That because Russia is a big market. Like Paramount, which said it will continue to monitor the situation as it unfolds, other studios have shared an intention to keep tabs on the evolving situation.

We will make future business decisions based on the evolving situation, a Disney spokesperson said.

Meanwhile, given the scale of the emerging refugee crisis, we are working with our NGO partners to provide urgent assistance and other humanitarian assistance to the refugees.

By Jaya