HONOLULU (KHON2) — Russia’s invasion of Ukraine has prompted a growing number of the world’s best known brands — from Apple to Nike and Airbnb — to cut ties with the country that’s become a global outcast. Many private companies have also announced they are suspending operations.

As the Russia-Ukraine war continues, everyone is feeling the economic impacts — Hawaii is no exception.

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GAS/OIL

On March 3, Par Pacific Holdings, Inc. announced it suspended purchases of Russian crude oil for their Hawaii refinery, located in Kapolei. It’s the only refinery in the state.

According to the U.S. Energy Information Administration, Hawaii is the most petroleum-dependent U.S. state. More than four-fifths of Hawaii’s energy consumption is petroleum.

On March 10, Skydive Hawaii announced the following on Facebook:

“Due to the increase in fuel (Jet-A) prices a fuel surcharge will begin on Friday, March 18, 2022. $20 on tandem skydives and $10 on photo/video.”

The company previously announced that it would no longer accept customers using Russian documents for their identification, but quickly deleted the post after they got clarification from the U.S. Parachute Association (USPA) that said there is no legal or organizational risk to their drop zones or instructors taking Russian or Belarusian citizens on tandem skydives. Click here to learn more about USPA’s position.

ELECTRICITY

Many are fixated on prices at the pump as Hawaii’s average sits at $4.77 per gallon of gas, but Hawaii residents should also have their eyes on their electric bill. The Hawaiian Electric Company (HECO) is projecting electric rates to increase.

HECO told KHON2:

“The economic sanctions on Russia, including the refusal to buy Russian oil, will result in higher prices at the gas pump and higher electric bills. Our current forecasts show bills on Oahu increasing by at least 10% over the next few months. We’re hoping that by summer oil prices will level out and bills will start to come down, but it’s difficult to forecast with so much uncertainty.”

Many in Hawaii are now focusing on how renewable energy can be implemented in the future, with the state’s goal of 100% renewable by 2045.

In addition to the rise in prices for gas and electricity, the Russia-Ukraine war is having an impact on events.

EVENTS

On March 2, IRONMAN Group announced that athletes from Russia and Belarus are no longer allowed to participate in the 2022 IRONMAN 70.3 World Championship in St. George, Utah, and the two events taking place in Utah and Kona, Hawaii.

“The IRONMAN Group stands in solidarity with the people of Ukraine, our athletes, and their community, and condemns the actions dictated by Russian leadership during this deeply troubling international crisis,” the announcement said.

This year is also the first time in more than 40 years that the IRONMAN World Championship will move outside of Hawaii due to the COVID-19 pandemic.

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The inaugural event will take place in St. George, Utah, on May 7, 2022, prior to returning to Kona with a new two-day race format in October.