According to the latest report, Swedish telecom equipment maker Ericsson said on Monday that it would suspend its operations in Russia indefinitely.
Join tip3x on Telegram
“In light of recent events and EU sanctions, the company will now suspend affected business with Russian customers indefinitely, ” Ericsson said in a statement. Employees in Russia will be placed on paid leave, Ericsson said.
Moreover, Ericsson said it would record a 900 million Swedish krona impairment provision and other special charges related to the move in the first quarter. Ericsson suspended supplies to Russian customers in February this year.
