In a statement, the company said it has been closely monitoring the situation.
"We are shocked and deeply saddened by the events that have developed," it added. "In light of these circumstances we have made the decision to cancel all of our holidays to Russia for the foreseeable future."
The move comes after Carnival Corp brands P&O Cruises and Cunard amended their Baltic cruise itineraries in response to the escalating conflict, while other cruise lines and operators said they were "monitoring the situation closely".
Viking Cruises cancelled all of its 2022 Kyiv and Black Sea departures and said it was evaluating all 2022 itineraries featuring calls in Russia.