Bridgestone Corp. said Monday it will suspend operations at a factory in Russia later this week while halting exports of tires to the country immediately as the situation remains uncertain following Moscow's invasion of Ukraine last month.

The major Japanese tire-maker said it will suspend production at its passenger car tire plant in Ulyanovsk in western Russia from Friday and freeze all new capital investment.

Bridgestone said it has only one factory in Russia, and sales from the country account for around 2% of the group's total revenue.