Coty Inc. will wind down operations in Russia, which make up barely greater than 3 percent of the whole business, the corporate said Wednesday.

“After careful consideration, including evaluation of relevant U.S., U.K. and other applicable regulation, Coty has decided to wind down its Russian operations starting immediately,” the corporate said in an announcement.

Coty’s move to stop operations in Russia comes nearly two months after many big beauty and consumer products corporations, including Coty, halted industrial activity there, as a result of Russian president Vladimir Putin’s continuing attack on Ukraine.

Coty is the tenth largest beauty manufacturer on the planet, in accordance with the Beauty Inc Top 100. The corporate posted $5 billion in sales for calendar 2021 — 3 percent of that’s $150 million.

“While the entire financial impacts, including the impact on the corporate’s long-term outlook, of the choice are still being determined, this decision just isn’t expected to affect Coty’s ability to realize its previously issued fiscal 2022 outlook on revenue, adjusted earnings before interest, taxes, depreciation or amortization, or adjusted [earnings per share] guidance due to seasonally lower contribution of the business within the fourth fiscal quarter,” Coty said within the statement.

In March, L’Oréal and The Estée Lauder Cos. Inc. each closed stores that they had operating in Russia, and halted other business out there in support of Ukraine. Sephora also closed stores in Russia, and Unilever, owner of Dove, Tatcha and other brands, paused business there, too.

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