FIDE terminates sponsorship agreements with Russian company

FIDE terminates sponsorship agreements: The International Chess Federation (FIDE) held an extraordinary meeting on the current situation and the urgent measures to be taken after the military action launched by Russia in Ukraine. Follow International Chess Federation Live Updates on InsideSport.IN

International Chess Federation FIDE terminates existing sponsorship agreements with Russian companies

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FIDE terminates sponsorship agreements: “As stated by the FIDE President Arkady Dvorkovich, the FIDE Council regards its main mission in preserving the unity of FIDE and respecting the basic human rights enshrined in the FIDE Charter,” stated an official statement. In this regard, the FIDE Council has adopted a number of important emergency decisions. “FIDE expresses its grave concern about the military action started by Russia in Ukraine. FIDE stands united against wars as well as condemns any use of military means to resolve political conflicts. FIDE will take any necessary action to ensure the security of chess players and other members of the chess community. No official FIDE chess competitions and events will be held in Russia and Belarus,” stated the statement.

Following the call from International Olympic Association (IOC), the FIDE Council has decided that no Russian and Belarusian national flag be displayed or anthem be played in all FIDE-rated international chess events.

International Chess Federation FIDE terminates existing sponsorship agreements with Russian companies

Instead – the national chess federation’s flag or the official symbol/logo shall be used. A simplified procedure for performing under the FIDE flag would be followed where it is crucial for the players or any other chess officials under the current geopolitical situation.

FIDE terminates sponsorship agreements: In order to safeguard FIDE from reputational, financial, and any other possible risks, FIDE has also terminated all existing sponsorship agreements with any Belarusian and Russian sanctioned and/or state-controlled companies and will not enter into new sponsorship agreements with any such companies.

Russian President Vladimir Putin on Thursday had announced a military operation in Ukraine and warned other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.”

Ukraine on Sunday had filed an application instituting proceedings against the Russian Federation before the International Court of Justice (ICJ), the principal judicial organ of the United Nations.

Ukraine filed an application instituting proceedings against Russia concerning “a dispute . . . relating to the interpretation, application and fulfilment of the 1948 Convention on the Prevention and Punishment of the Crime of Genocide” (the “Genocide Convention”), the International Court of Justice said in a statement. Follow International Chess Federation Live Updates on InsideSport.IN

International Chess Federation FIDE terminates existing sponsorship agreements with Russian companies

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