Ericsson stops operations in Russia

EricssonPhoto: PONTUS LUNDAHL / NTB
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The Swedish telecom giant Ericsson is closing down all operations in Russia.

The decision was made due to the war in Ukraine and the sanctions against Russia, the company stated on Monday.

Leaving Russia is estimated to cost the company 900 million Swedish kroner over a period of three months. No personnel costs are included in this sum.

A large number of foreign companies have withdrawn from Russia since the invasion of Ukraine on February 24.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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