The co-op's released its half year results, which show a seven percent drop in after-tax profit, to 364 million dollars, largely due to high milk prices.
CEO Miles Hurrell says Fonterra made the call very early to suspend shipments to Russia.
He says the co-op has seven people in Moscow and a joint venture with another 35 people.
Hurrell says Fonterra's assessing the impacts on its people and no decision's been made yet.
