(QHA) -

Citing new laws that place limits on media companies’ foreign ownership, CNN announced that it would be suspending its broadcast in Russia on Monday.

This comes month after Russian President Vladimir Putin "signed a law that requires Russian media with foreign owners to reduce non-Russian ownership to 20 percent by the end of 2016."

"We hope to re-enter the market in due course, and will notify our partners of any update about resuming these services"- Turner Broadcasting said in a statement.

The network's news operation in Moscow is unaffected, the statement said.

Cable distributors were notified in a letter from Turner Broadcast System Europe Ltd., a division of Time Warner, according to the Russian news agency ITAR-TASS. The letter did not spell out a reason for the move.