Ericsson to Suspend Production in Russia

The Swedish telecommunications equipment manufacturer Ericsson has decided to indefinitely suspend its business operations in Russia, as stated on the company’s website.

The producer has halted its activities due to "recent events and European Union sanctions."
Ericsson will establish a reserve account for asset depreciation and other "extraordinary expenses" amounting to 0.9 billion Swedish kronor (approximately 95 million dollars). Employees at Ericsson’s office in Russia will be sent on paid leave.