Against the background of the Ukraine war, the Swedish network supplier Ericsson is withdrawing from its business in Russia until further notice. The company announced that all deliveries to customers in Russia had already been suspended at the end of February. In view of the most recent events and the EU sanctions, the affected customer business in Russia will now also be discontinued indefinitely. As a result of the withdrawal, Ericsson made a provision of 900 million Swedish kronor in the first quarter. Ericsson has around 600 employees in Russia. According to the company, they are now being sent on paid vacation. The Swedes are a key supplier to Russia’s leading mobile operator, MTS, as well as the fourth largest operator, Tele2.
EU sanctions – Ericsson shuts down business with Russia – Economy
