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Volvo, Scania and Ericsson suspending business in Russia

2 March 2022 19:33 (UTC+04:00)
Volvo, Scania and Ericsson suspending business in Russia

By Trend

Volvo, Scania and Ericsson announced suspension of their business in Russia, Trend reports citing TASS.

Volvo Cars decided to halt sales of new cars in Russia. "Considering the potential risk related to trading in materials with Russia and sanctions introduced by the US and the EU, Volvo Cars will not supply automobiles to the Russian market until further notice," company’s spokesperson Ben Foulds said, cited by TT. According to Volvo Cars, Russia accounted for 1.3% of global sales.

Scania halted deliveries of automobiles and spare parts to Russia last week, Erik Bratthall from the company’s press service said. "Relations with clients are important for Scania but values of Scania were more important in this regard," he said.

Ericsson decides to suspend deliveries to clients from Russia while it is reviewing sanctions introduced against the country, the Swedish company’s press service told TASS.

"Ericsson is urgently analyzing introduced sanctions. The company decided to suspend all the deliveries to clients in Russia, while we are holding the review. It is early to speak about the effect of economic sanctions in respect of Russia on Ericsson and we refrain from further comments in this regard," the press service said.

Ericsson is dealing with telecom equipment supplies.

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